The family-owned Kienast Group has won a bidding race for a strategic investment in the insolvent Schuhpark Fascies chain of shoe shops in Germany. On June 30, the district court of Münster repealed the chain's bankruptcy proceeding, and the creditors of Schuhpark Fascies have now approved the investment from Kienast. As part of the restructuring plan, Schuhpark Fascies has closed 18 stores in various regions over the past five months. The Kienast Group – one of Germany's five largest shoe retailing groups, with around 400 shops and eight million pairs of shoes sold per year – will continue to run Schuhpark Fascies' remaining 70 stores. The retail chain will still employ 700 people in North Rhine-Westphalia, Lower Saxony, Bremen and Schleswig-Holstein. Schuhpark Fascies previously employed 900 people, 116 of them in warehousing and logistics and 33 in administration. Georg Bernsau and Andres Pantlen – restructuring experts at the law firm of BBL Bernsau Brockdorff & Partner, which joined the executive board next to Bernard Fascies and, in consultation with the solicitor, prepared the restructuring plan for the district court of Münster – left the company on June 30.