Oppenhoff advises CEO of Gerry Weber on financial and operational restructuring

Oppenhoff is advising the CEO of Gerry Weber International AG, Angelika Schindler-Obenhaus, on the company’s financial and operational restructuring.

Gerry Weber International filed for the initiation of so-called “StaRUG” proceedings with the competent local court in Essen. The procedure pursuant to the German Act on the Stabilisation and Restructuring Framework for Companies (Gesetz über den Stabilisierungs- und Restrukturierungsrahmen für Unternehmen, StaRUG) aims to enable companies to be restructured within the framework of a self-administration procedure without being forced into formal insolvency proceedings.

In the case of Gerry Weber International, part of the restructuring proceedingis a capital reduction to zero, which would also result in the delisting of the shares of Gerry Weber International AG.

In parallel, Gerry Weber Retail filed for insolvency proceedings in self-administration. Gerry Weber Retail GmbH operates the German retail business, which is to be restructured. Currently, the company still has a network of 149 stores and 28 outlet stores.

CEO Angelika Schindler-Obenhaus was supported in her decisions by a team led by Dr. Sebastian Zeeck. Further team members were Robert Fischer-Sonnberg (both Corporate & Restructuring, Hamburg) and Dr. Wolfgang Kotzur (Finance, Frankfurt).

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