The central unit of the Weltbild Group submits bankruptcy request once more.
The main company of the Weltbild Group has sought bankruptcy protection. The Weltbild GmbH & Co. KG, situated in Augsburg, submitted a similar request to the local court, as stated by the court. "Wirtschaftswoche" was the first to publish this news. The court has assigned lawyer Christian Plail as the temporary insolvency administrator.
Plail is a partner at the law firm SGP Schneider Geiwitz. Arndt Geiwitz from the same firm is well-known for his participation in the insolvencies of Galeria and Schlecker.
As per "Wirtschaftswoche," it is unknown at this time what the bankruptcy of the central company implies for the Weltbild Group– an official from the company supposedly avoided providing comments regarding this. Weltbild GmbH & Co. KG, which is the largest operational business in the group, boasts brands like Weltbild, bücher.de, Tausendkind, Paul Valentine, Westfalia, Gärtner Pötschke, Orbisana, and Jokers. It generated around 500 million euros in revenue in 2023.
In 2014, Weltbild applied for bankruptcy due to Catholic shareholders, comprising twelve dioceses, declining to fund the company's restructuring. Thereafter, consulting and investment firm Droege Group took over major responsibilities of Weltbild.
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The already insolvent central unit of the Weltbild Group has submitted another bankruptcy request. This situation might impact the core company, as Weltbild GmbH & Co. KG, the group's largest operational business, is involved.
