Madeleine takes its name from the daughter of its former investors, the Schickedanz family of the Quelle Group. Founded in 1977, the company is based in Zirndorf, Bavaria, and currently has around 240 employees.
The brand is currently part of the TriStyle Group in Munich, which also includes brands such as Peter Hahn, TriStyle Customerce GmbH and TriStyle Sourcing Ltd. Since 2022 Madeleine, along with Peter Hahn, is climate neutral. In cooperation with the climate protection expert ClimatePartner, the CO2 emissions were calculated for this and compensated by an internationally recognized climate protection project.
Now at the responsible district court in Fürth an insolvency procedure in self-administration was requested, communicated the Kanzlei Schultze & brown, which supports Madeleine in the procedure. The restructuring experts Detlef Specovius, Michael Böhner and Christoph von Wilcken from the law firm Schultze & Braun were already active in the restructuring of the brands Esprit and Bonita. Reasons given for Madeleine Mode GmbH’s insolvency included price increases for its collections and a decline in sales due to inflation, as well as changes in customer buying behavior.
“The way we shop for fashion has probably never changed as fundamentally as it has in the past year and a half,” says Madeleine Managing Director Daniela Angerer. “We want to and will take this change into account with our realignment. In particular, the realignment of the Madeleine brand and the digital transformation of the business model will play a major role in this.”
The brand is now looking for new investors to reposition itself as part of the restructuring process. The aim is to complete this process within a few months. In the process, Madeleine is also considering incorporating the brand and sales structures into the portfolio of another fashion retailer. “We want to use the reorganization proceedings and the possibilities offered by reorganization law to create a future perspective for Madeleine, and we see a good chance that this can succeed,” Angerer said in a statement. “The goal is that Madeleine can continue to be active in the market and exploit the potential of the brand.”