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Hammer room stylists in need: insolvency proceedings started!
The Brüder Schlau Group files for bankruptcy. Hammer specialist stores remain open, salaries secured until August. Renovation in planning.
Hammer room stylists in need: insolvency proceedings started!
The Brüder Schlau Group, which has been supplying the region with its “Hammer Raumstylisten” chain for years, is facing a serious challenge: the company has filed for bankruptcy. The application to open insolvency proceedings under self-administration was submitted to the Bielefeld District Court in order to set the course for sustainable restructuring regionalHeute.de reported. The aim of this procedure is clear: the implementation of a restructuring concept that is intended to ensure the continued existence of the company.
Although the situation is tense, customers can breathe a sigh of relief. All of Hammer's 180 branches and around 60 Schlau craft markets will remain open and orders will be carried out as usual. The salaries of around 3,900 employees are covered by the insolvency benefit from the Federal Employment Agency up to and including August 2025. Thanks to an existing financing concept, business operations are guaranteed without interruptions, which is a relief for many families in the region.
Background to bankruptcy
The company's history goes back to 1921, when the brothers Theodor and Wilhelm Schlau founded a paint wholesaler in Minden. The first Hammer branch opened in Bremerhaven in 1976. Despite this solid past, the company now faces a difficult economic situation. The decision for self-administration insolvency proceedings is intended to enable the company to work specifically on a sustainable strategy without endangering current business, according to n-tv.de.
Insolvencies in the German context
The number of bankruptcies in Germany has increased in recent years. In 2023, around 110,200 bankruptcies were counted, with the service sector particularly badly affected. Corporate bankruptcies are also increasing - 17,814 companies filed for bankruptcy, an increase compared to the previous year. Unfortunately, the Brüder Schlau Group is part of this development, in which many companies are forced to no longer be able to meet their payment obligations. The goals of the insolvency procedure are a fair settlement between debtors and creditors, as statista.com explains.
The future of Hammer Raumstylisten and the entire Brüder Schlau Group now depends on the next steps in the insolvency proceedings. The hope is to develop successful restructuring strategies that will make it possible to get the company back on track and retain the broad workforce.