Initial Situation
The debtor had initially specialised in the sale and repair of suitcases, in particular under the ‘Klockmann’ brand. This business model collapsed completely with the start of the coronavirus pandemic in March 2020. As a result, the debtor also lost its most important supplier, RIMOWA GmbH, in March 2022, which cancelled all dealer contracts in Germany. The management therefore decided to change the business model and switch to the e-mobility trend. From then on, bicycles with electric drive systems and the corresponding accessories were to be sold under the name ‘Cactus E-Mobility’.
The Insolvency Proceedings
Simat-Leins Beteiligungsgesellschaft mbH filed for insolvency proceedings to be opened at Hamburg Local Court on 16 May 2023.
While the management set up the new business model in the field of e-mobility, the sale of suitcases under the ‘Klockmann’ brand at Hamburg Airport continued and recovered after the end of the pandemic.
The retail shop at Hamburg Airport was sold immediately after the opening of insolvency proceedings on 1 August 2023, with Hamburg Airport as the landlord having a great interest in ensuring that this business area in particular was retained. The name ‘Klockmann’ will therefore continue to be found in Hamburg in the future.
The Result
Shop successfully sold. Proven brand remains.
