Traditional German retailer is insolvent: half of the branches are now being closed

An investor should now mean the rescue for the other 80 branches. As the management announced on Thursday, the provisional creditors’ committee decided in favor of “a long-term oriented private investor with Hamburg roots”.

He submitted “the most interesting continuation concept and the most viable offer”. However, the identity of the mysterious private investor has not been revealed. The management, consisting of Frank Revermann and Tobias Volgmann, will continue to manage the company in the future.

“We are convinced that Görtz can look forward to a successful future,” says Revermann. The trustee appointed by the court was also confident. He assumes that the restructuring process will be completed “imminently”.