Insolvency of Shoe Retailer Görtz Also in Austria

In Austria, the shoe retailer Görtz has a total of seven branches with almost 60 employees, whose wages were paid up to and including July. The insolvency results from the insolvency of the Görtz Group in Germany.

More than 100 Creditors Affected by Insolvency of Shoe Retailer Görtz

Affected are 108 creditors, whose total claims amount to around 2.3 million euros. The debt relief is to be carried out through a restructuring plan, under which the insolvency creditors will receive a 20 percent quota, payable within two years from the acceptance of the restructuring plan. According to its own statements, GAT has already developed a restructuring concept and restructuring measures to ensure continuation without default for the creditors, according to the AKV. The German Görtz Group experienced its second financial crisis within a short period in January. It was only in July 2023 that the first insolvency proceedings of Ludwig Görtz GmbH with its two subsidiaries Görtz Retail GmbH and Görtz Logistik GmbH were concluded.

(APA/Red)

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