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New investor – insolvent bakery chain is about to be saved

Hope for the insolvent bakery chain Dat Backhus from northern Germany: an investor can join the company, as the creditors decided. This would save the chain with 93 branches.

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The insolvent Hamburg bakery chain Dat Backhus has come a big step closer to its rescue. The creditors’ meeting unanimously approved the insolvency plan on Wednesday, said a spokesman for insolvency administrator Stefan Denkhaus.

This paved the way for the entry of a new shareholder, the Berlin investment company Precapital Partners. The insolvency proceedings are expected to be lifted at the end of the month.

Filed for insolvency due to Corona

Dat Backhus will therefore remain with around 1,050 employees in 93 branches and two production locations in the greater Hamburg area. The food-gourmet-restaurants union (NGG) and the works council as well as the landlords have made considerable restructuring contributions.

“I am pleased that despite the renewed lockdown and the associated collapse in sales, the end of the insolvency proceedings and the entry of the new shareholder will be successful,” said Denkhaus.

The long-established company had filed for bankruptcy at the Hamburg district court after a corona-related slump in sales, especially in the café business in April. At that time, Dat Backhus still had 119 bakery shops with around 1,200 employees. The branch network was restructured in the course of the insolvency proceedings.

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