Www appelrath und cüpper de

die next corona victim: Cologne-based women"s fashion chain Appelrath Cüpper has filed zum insolvency under its own administration.

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This text was originally published bei German und machine-translated right into English.

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"We to be on a great path. At sight January, supervisor February, plans exceeded, vault year exceeded by far. Then March hit united state cold with Corona and the keep closures." Appelrath Cüpper CEO Lothar Schäfer stated today, the day top top which ns Cologne neighborhood Court approved die application by the women"s fashion chain and ordered die insolvency in self-administration.

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By taking this step, Appelrath Cüpper GmbH, which is in the midst von a restructuring, intends zu reorganize itself und regain a vain position in the market. Schäfer: "Due to ns official closures von all 16 stores, our sales have almost completely collapsed. Just the online shop is ausblüten accessible to end consumers. At an early stage, die company sought talks with die banks und applied zum a kfw loan.
Heinrich Ollendiek, CFO: "Unfortunately, despite an application, we did notfall get accessibility to kfw loans, deshalb that die only auswahl was zu seek insolvency under our own management. However, this deshalb offers us significant opportunities, so that us can still look to die future through confidence".Attorney Bero-Alexander Lau native WhiteCase was appointed together provisional administrator. Appelrath Cüpper will deshalb be accompanied von the Düsseldorf-based commercial legislation firm und management consultants Buchalik Brömmekamp, v whose support a restructuring concept wollen be developed in the coming weeks. This concept will later lead to an insolvency plan an which ns debt reduction und continuation von the company will be outlined."We assume that ns proceedings wollen be completed von the end of this year," says restructuring expert Jasper Stahlschmidt indigenous Buchalik Brömmekamp, who möchte support die management as basic representative weil das the duration von the proceedings. Appelrath Cüpper employs some 1,000 people and generates yearly sales von about €110 million. 95% des sales room generated bei physical stores, die rest come from online business.
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