15.04.2025 13:22
The recent global economic crisis has led many companies to declare bankruptcy, with the latest addition to the list being Görtz, a 150-year-old shoe chain. The giant company, which will close all its stores, is offering a 70% discount on its products, while nearly 2,000 people will be left unemployed following the bankruptcy.
The famous German shoe chain Görtz, which has 160 stores and 1,800 employees in Germany and Austria and has been in operation since 1875, has gone bankrupt.
ALL STORES WILL BE CLOSED
The company, which will close all its stores, has made a 70% discount. It is planned that all stores will be handed over to their landlords empty within two weeks. Görtz's headquarters, which has a sales area of 4,000 square meters on Hamburg Spitalerstr, will also close.
FILED FOR BANKRUPTCY TWO YEARS AGO
Görtz, which has been experiencing cash flow problems for a while, filed for bankruptcy for the first time two years ago but had hoped to recover with investor Bolko Kissling. The last family head, Ludwig Görtz (†89), had left the Board of Directors in 2015. However, this did not save the situation.
NEARLY 2,000 PEOPLE WILL BE UNEMPLOYED
Severely affected by the impact of the coronavirus, declines in sales, and the shift towards online commerce, Görtz has even started to struggle to pay the rents of its stores. All employees of Görtz, which has faced the same fate as many traditional companies in Germany, will also lose their jobs.