GÖRG advises BONITA on successful completion of insolvency proceedings in self-administration
GÖRG Partnerschaft von Rechtsanwälten mbB has accompanied Hamminkeln-based BONITA GmbH in the successful conclusion of its self-administration proceedings. The Hamburg Local Court finally confirmed the insolvency plan developed by GÖRG together with the law firms Schultze & Braun and White & Case on 15 March 2021. The plan had already been approved almost unanimously by the creditors' meeting of the fashion store chain in February.
Due to sales losses caused by the Corona crisis, the long-established company had to apply for protective shield proceedings at the Hamburg Local Court in June last year. Since then, the BONITA management has been supported by the experienced GÖRG restructuring experts Dr. Thorsten Bieg and Prof. Dr. Gerrit Hölzle as well as lawyer Detlef Specovius (Schultze & Braun) in the course of the judicial insolvency proceedings. They joined the management of the fashion company as restructuring directors (CRO). Lawyer Dr. Sven-Holger Undritz (White & Case) was appointed as trustee.
The company's creditors' committee had already unanimously approved the management buy-out by a group of investors consisting of industry experts in November 2020. With the acceptance of the insolvency plan, the self-administration proceedings will now finally be lifted at the end of the month and the successful continuation of BONITA will be secured in the long term.
Self-Administration Team BONITA GmbH
GÖRG Partnerschaft von Rechtsanwälten mbB
Dr. Thorsten Bieg, Partner, CRO, Hamburg
Prof. Dr. habil. Gerrit Hölzle, Partner, CRO, Hamburg
Holger Rhode, Partner, Insolvency Administration, Dusseldorf
Harald Ick, LL.M., Partner, M&A, Hamburg
Dr. Karl-Friedrich Curtze, Associated Partner, Insolvency Law, Hamburg
Schultze & Braun
Detlef Specovius, CRO, Insolvency Law, Lead management
Michael Böhner, Insolvency Law
Alexander von Sänger, Employment Law, Nuremberg
Patrick Ehret, International Law
Guido Koch, Liquidity Planning, Berlin
White & Case
Dr. Sven-Holger Undritz, Trustee
Dr. Ellen Meyer-Sommer, Insolvency Law
Dr. Henning Mordhorst, Insolvency Law
Dr. Gero von Jhering, Procedural Law
Hendrik Röger, Employment Law
The fashion brand BONITA, founded in 1969, is established in the field of combi-fashion for 'Best Ager' customers. The combinability of garments in high quality to always new outfits is the heart of BONITA's fashion and the basis for the collections. These are created and manufactured exclusively for BONITA. The collections are characterised above all by loving details, excellent fits and exceptional colour accuracy. Friendly and competent customer advice is part of the corporate philosophy. BONITA has around 500 points of sale (POS) in its core market of Germany as well as in Austria, Switzerland and the Netherlands, including around 450 of its own shops and around 50 shop-in-shops at selected partners. In addition, BONITA operates an online shop. The company employs around 1,800 people.