Hein Gericke files for bankruptcy for the fourth time

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Hein Gericke files for bankruptcy for the fourth time
Hein Gericke

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Hein Gericke files for bankruptcy for the fourth time

Hein Gericke files for bankruptcy for the fourth time
Accessories chain broke, sales are ongoing

The accessories chain Hein Gericke is bankrupt and filed for bankruptcy for the fourth time in November 2017. The final clearance sale is now under way.

Michael Schumann

04/05/2018

On Friday, November 3, 2017, the Dusseldorf accessories chain Hein Gericke have to file for bankruptcy for the fourth time. The industrialist Paul Liao, who joined the Liao Group as an investor, has withdrawn from the German motorcycle accessories company, according to the helmet manufacturer LS 2, which is part of the Liao Group, after he had previously invested a multi-digit million amount in the traditional, but also almost traditionally ailing company.

Of the remaining 33 shops in the Hein Gericke chain in Germany at the time, only 9 were still open in April 2018. And the final clearance sale is now starting in these 9 shops in Berlin, Minden, Braunschweig, Dusseldorf, Duisburg, Cologne, Limburg, Friedrichshafen and Wurzburg. Remaining stocks are sold at a generous discount while stocks last. Online trading has already been discontinued.

Hein Gericke closed a third of his stores in 2016

Hein Gericke had to file for bankruptcy in February 2016. The creditors of the insolvent Hein Gericke Europe GmbH approved the insolvency plan of the Dusseldorf company, which was drawn up on their own responsibility.

In addition to suppliers and lessors of retail space, the creditors also included the employees. It would have been particularly difficult for them to agree, because a written statement by the company named the closure of branches and the downsizing of staff as the key point of the restructuring.

In fact, many locations were no longer listed in Hein Gericke’s 2016 catalog. The two shops in Munich, the shops in Bocholt, Osnabruck, Trier, Frankfurt, Darmstadt, Mannheim, Kiel, Kehl, Erfurt, Schwabisch Hall, Magdeburg, Weil am Rhein, Kaufbeuren and Rosenheim were missing.

Of the 51 Gericke shops in Germany in 2015, only 33 remained. Of the 15 HG shops still listed in Austria, Italy, Belgium, the Netherlands and Great Britain in 2015, two were closed.

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