A Breath of Fresh Air for Bertels Textil: Heuking Lawyers Advise Insolvency Administrator von Diepenbroick
December, 2019 - Germany
| A team led by Dr. Johan Schneider, Managing Partner at Heuking Kühn Lüer Wojtek, advised the insolvency administrator of Bertels Textilhandels GmbH, Hamburg-based lawyer Dr. Hagen von Diepenbroick of the law firm of Münzel & Böhm, on the sale of the assets and shares in non-insolvent Berra Handelsgesellschaft mbH to WIND GmbH, a member of Sendler group. The contract has already been notarized, with the transfer to take effect on January 1, 2020. The parties have agreed not to disclose the acquisition price. Jointly with consulting company Lange Corporate Finance GmbH, von Diepenbroick had looked for an investor in Bertels Textilhandels GmbH. “We are highly satisfied to have found, in WIND GmbH, backed by Sendler group, an investor from the textile industry to take over the majority of Bertels Textilhandels GmbH’s 31 employees and Berra Handelsgesellschaft mbH’s ten shops on the North and Baltic Seas with an additional 35 employees,” said von Diepenbroick. Kaltenkirchen-based Bertels Textilhandels GmbH is a family-run trading company for clothing (including the “FirstB” and “Coastline” brands), home textiles, and sports merchandise. Founded in 1963, the company entered into its own business in the 1980s by concluding license agreements in the German Bundesliga soccer league. WIND GmbH, based at Fleethaus in the port of Hamburg-Harburg, develops and sells maritime lifestyle fashion. For almost 40 years, its WIND SPORTSWEAR brand has been one of the leading maritime fashion brands in Germany and Europe. The company attaches great importance to an on-site presence at North Sea and Baltic Sea retail locations as well as to sustainable working conditions and production. The clothing, produced predominantly in Portugal, carries the Oeko-Tex label. Counsel to insolvency administrator Dr. Hagen von Diepenbroick Heuking Kühn Lüer Wojtek: Dr. Johan Schneider (Lead, Restructuring), David Loszynski (Restructuring), Dr. Johan-Michel Menke (Employment), Falko Keller (Tax), all Hamburg |
