Dusseldorf Hakle and Görtz are probably just the beginning: After the bankruptcies of the toilet paper manufacturer and the shoe retailer, experts in the consumer sector expect further bankruptcies. “We will certainly see numerous insolvencies,” said Stefan Wenzel, a trade expert and former eBay Germany boss.
Retailers and branded companies are hit by the risk of bankruptcy earlier than other sectors. For them, revenue is falling because consumer spending is at an all-time low as a result of inflation. At the same time, energy and transport costs are rising sharply for companies.
“This is a threatening mixture that will probably continue for a long time,” says the experienced insolvency administrator and restructuring consultant Andreas Kleinschmidt from the commercial law firm White & Case. “Retail is the industry that feels the reluctance of consumers first and directly, which can lead to further insolvencies.”
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