- Wormland remains as a gentleman's gear manufacturer, now under L&T's ownership.
Bankrupt Tailor Wormland Rescued. After receiving approval from fashion house Lengermann & Trieschmann (L&T) in Osnabrück at the start of the month, the insolvency court in Hannover has now brought an end to the bankruptcy proceedings for Wormland as of August 31st, according to the previous administrator's statement. This marks the conclusion of the eight-month bankruptcy period, with the company now functioning autonomously once more, as stated in the announcement. Nine branches employing over 300 individuals will continue to operate.
"Wormland is a robust brand that effectively showcases high-end men's fashion while providing expert fashion advice from devoted staff," noted L&T CEO Mark Rauschen in the statement. "This serves as a solid foundation for the future." The previous management team will remain in charge.
At the time of filing for bankruptcy in January, Wormland had a workforce of 400. Since then, three branches have shut down, including one of the two stores in Bremen. The two branches in Hannover's headquarters, as well as one each in Bremen, Hamburg, Berlin, Munich, and three in North Rhine-Westphalia, will stay open.
The Court of Justice in Hannover played a crucial role in ending Wormland's bankruptcy proceedings, as stated in the previous administrator's announcement. Following the approval from Lengermann & Trieschmann (L&T), The Court of Justice deemed it appropriate to conclude the bankruptcy period for Wormland as of August 31st.
