Historic Shoe Retailer Görtz Declares Insolvency for the Second Time

The Hamburg-based company, rescued in 2023 after its first insolvency, faces renewed financial struggles with only a fraction of its former operations intact.

The Hamburg District Court has initiated insolvency proceedings for Görtz Retail GmbH, appointing attorney Gideon Böhm as the preliminary insolvency administrator.
This marks the second insolvency for the 150-year-old company in less than two years, following a failed restructuring effort led by investor Bolko Kissling in 2023.
Görtz has significantly downsized since its first insolvency, shrinking from 160 stores and 1,800 employees in 2022 to just 30 stores and a reduced workforce today.
The company has struggled with issues such as rental debts and store closures, with reports of empty shelves and clearance sales at remaining locations.
The insolvency administrator plans to assess the company's situation and has suggested pre-financing employee wages through insolvency funds.