The traditional shoe brand Peter Kaiser is facing insolvency. Self-directed insolvency proceedings against the company have been opened and the shoe factory is looking for investors.
The oldest still existing shoe factory Peter Kaiser from Pirmasens in Rhineland-Palatinate is facing insolvency. At the beginning of December, the Pirmasens district court opened insolvency proceedings under self-administration against the company.
The manufacturer of women’s shoes, founded in 1838, is not yet bankrupt and therefore wants to reposition itself without an external insolvency administrator. The long-established company is currently looking for investors.
The reason for the self-directed insolvency is also the corona crisis. But there were some problems even before the pandemic – the demand for expensive women’s shoes and the number of stationary shoe stores have been falling for years. 200 employees in Pirmasens are affected by the bankruptcy, while 450 employees in a plant in Portugal are not.