GÖRG partners Dr Raul Taras and Holger Rhode are supporting the provisional self-administration of key parts of the PICARD Group in their roles as Chief Insolvency Officers (CIOs). The Offenbach Local Court has ordered provisional self-administration for several companies, including PICARD Lederwaren GmbH & Co. KG. Thomas Montag of MONTAG & MONTAG Unternehmensberater Partnerschaftsgesellschaft serves as Chief Restructuring Officer (CRO). The court appointed attorney Nadja Raiß of K&L Gates as provisional administrator. Business operations will continue without interruption.
The PICARD Group, headquartered in Obertshausen, is one of Germany’s long-established manufacturers of high-quality leather goods and markets its products internationally under the PICARD brand. By entering self-administration proceedings, the company is responding to the economic challenges of recent years. The goal is to continue to implement the restructuring measures consistently and secure a sustainable future for the company.
At the same time, a structured investor process has been initiated. Together with Chief Restructuring Officer Thomas Montag, Dr Raul Taras and Holger Rhode, acting as Chief Insolvency Officers, are coordinating the restructuring and supporting the management in implementing the self-administration.
“Our focus is on maintaining stable business operations at PICARD while consistently implementing the restructuring. With the investor process now underway, we aim to secure a sustainable future for the company and, to the extent possible, preserve jobs,” explain Dr Raul Taras and Holger Rhode.
Advisers to PICARD Lederwaren GmbH & Co. KG and PICARD GmbH
GÖRG Partnerschaft von Rechtsanwälten mbB / GÖRG Insolvenzverwaltung Partnerschaft von Rechtsanwälten mbB / GÖRG Rechtsanwälte/Insolvenzverwalter GbR
Dr Raul Taras (Lead, CIO, Partner, Insolvency Law, Restructuring, Cologne)
Holger Rhode (Lead, CIO, Partner, Insolvency Law, Cologne)
Dr Michael Schaumann, Dipl. Kfm (Partner, Restructuring, Cologne)
Claus Christopher Schiller (Partner, Corporate Law / M&A, Cologne)
Dr Monique Pröpper (Senior Associate, Corporate Law / M&A, Cologne)
Nadine Schriek (Senior Associate, Restructuring, Cologne)
Anna Droste (Associate, Restructuring, Cologne)
