The luxury fashion manufacturer strenesse has again filed for insolvency proceedings in self-administration. The district court in nordlingen in northern swabia has already granted the application, said a company spokeswoman.
Several media had previously reported on the insolvency petition. With this step, strenesse new gmbh wants to free itself from further burdens of the former strenesse AG. "Business operations will continue seamlessly," the company spokeswoman emphasized.
The AG originally filed for insolvency in self-administration in 2014, but the court later converted the proceedings into regular insolvency proceedings. In the case of proceedings in self-administration, the management remains in office, but receives support from external reorganization experts.
At the end of 2016, a swiss holding company bought the swabian fashion company with 240 employees in the previous insolvency proceedings, after the takeover by a dutch investor had failed. The business was then transferred to the new company.
The fashion manufacturer from northernlingen had been run by the founding family strehle for 65 years before the first insolvency. For a long time, strenesse was considered a flagship of german designer fashion. At times, the company was also the outfitter of the national soccer team.