Görtz remains alive: branches in Oldenburg and Lübeck secured!

Görtz remains alive: branches in Oldenburg and Lübeck secured!

Bad news often comes in waves, but the latest developments on the Görtz issue give cause for hope. The traditional shoe retailer, which was founded in 1875, has now gone through its second bankruptcy in less than two years. This time, the insolvency proceedings were ordered by the Hamburg District Court on January 21, 2025, and the renowned lawyer Gideon Böhm from the law firm Münzel & Böhm is taking responsibility for the insolvency administration. Despite the tense situation, those responsible are optimistic: the branches in Dresden and Oldenburg will remain open and sales will continue.

With a strategic plan behind it, Görtz aims to attract potential investors and maintain business operations. According to kreiszeitung.de, no further closures are currently planned in the north. The branches in Lübeck and Oldenburg also remain in tune with the times and rely on the support of locally committed teams and the support of customers.

Closures and challenges

However, not everything is rosy in the Görtz house. Due to rent arrears, numerous locations have had to close over the last few years, including the flagship in Hamburg. The developments of the last few months have shown how serious things are for many retail companies. Observations by Tagesschau show that the number of bankruptcies in Germany increased significantly in 2024, with over 21,800 company bankruptcies - an increase of around 22% compared to the previous year. These crises have left their mark and it is clear that the shoe trade is not inevitably blessed.

The situation shown illustrates how much the economy is affected by external shocks. This is also reflected in the statistics: 6% of all company closures are expected to have their origin in insolvency proceedings. Of course, bankruptcy is often accompanied by the prospect of a second chance, but not every company finds the right way back on its feet.

The way forward

The current situation at Görtz shows that there can be positive developments even in times of crisis. So far the focus seems to be on sustainable restructuring and repatriation of the company. Even though the headquarters on Hamburg's Spitalerstrasse and several other branches had to close, the focus is on saving at least three locations, including Lübeck, through potential investors. Görtz has already received support for job creation in the past; Around 650 jobs were retained during the first bankruptcy.

There is at least a glimmer of hope for the workforce: salaries and wages are currently paid from the sales proceeds of the branches that are open. A sign that the teams in Oldenburg and Lübeck have a good hand when it comes to attracting customers from the region.

It remains to be seen whether Görtz will emerge from this crisis in the long term. The next few months will be crucial to see whether a viable solution can be found. A positive example at a time when many companies in Germany are coming under pressure - a challenge that will remain in the coming years, as ifm-bonn.org reports.