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Wormland has filed for insolvency

The men’s fashion chain Wormland operates twelve stores throughout Germany and employs around 400 people. The process is due to be completed in summer 2024.

Theo Wormland GmbH’s turnover in 2023 was higher than in the previous year, but the inflation-related cost increases could not be offset.

The fashion company is being supported in the proceedings by restructuring expert Dr. Jens-Sören Schröder and the law firm Johlke Niethammer. The aim is to completely realign the company in order to be fit for the future. This includes a digital transformation as well as marketing campaigns and social media presence.

The management team of Tim Kälberer, Bernd Sölter and Peter Wolff, who took over Wormland from Ludwig Beck in 2019, is motivated to overcome the crisis: “We want to continue to surprise and inspire our customers in style, whether digitally or with our expert staff. Our stores stand out with their strong visual appeal and have become a unique selling point. Entrepreneurial pioneering spirit as a core value of the eponymous founder Theo Wormland still characterizes all employees today and accompanies our innovation decisions.”

According to the press release, all stores will remain open.