Görtz Faces Insolvency Challenges Again

Görtz, a historic shoe retailer established in 1875, is once more grappling with insolvency. Despite efforts to revitalize the brand under new investor Bolko Kissling from CK Technology Solutions, financial stability remains elusive. Gideon Böhm of Münzel & Böhm has been appointed as the insolvency administrator to explore rescue options. The company has faced significant hurdles, including rent arrears leading to eviction proceedings at several locations.

After the 2023 takeover, Görtz attempted to streamline its operations by closing more than 100 stores out of 160, aiming to preserve 650 jobs. However, only about 30 branches remain operational in Germany and Austria. The envisioned modernization of product assortments and strengthening of private labels were not realized.

The COVID-19 pandemic has further exacerbated financial strains, with customer footfall in main shopping streets declining. As Görtz endeavors to navigate these turbulent waters, it reflects the broader challenges faced by the retail sector in this post-pandemic era. The company's ongoing struggles serve as a stark reminder of the difficulties traditional retailers face in adapting to rapidly changing market conditions.