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credit: sportscheck
credit: sportscheck

The German sports retailer SportScheck filed for insolvency

The restructuring and investor process should be completed by the end of the first quarter of 2024.

The Signa subsidiary is insolvent and, following Signa Holding’s application for insolvency, also had to file for the opening of insolvency proceedings. The application was filed with the Munich Local Court with the support of the insolvency and reorganisation experts at Runkel Rechtsanwälte.

The takeover by the British fashion retailer Frasers Group was announced in autumn. It has not yet been finalised, but the company intends to stick with it, according to a press release. In addition to the interested party from the UK, there are reportedly other potential investors. This positive impulse encourages Sportscheck in its search for a strong partner who can guarantee the long-term stability of the company.

In addition to the online shop, which supplies the entire DACH region, the company currently has 34 shops throughout Germany with a turnover of around 350 million euros. According to Managing Director Matthias Rucker, although the insolvency is not favourable, it is also an opportunity to strengthen the company in the long term vis-à-vis its contractual partners and creditors.