Diese Website verwendet Cookies, damit wir dir die bestmögliche Benutzererfahrung bieten können. Cookie-Informationen werden in deinem Browser gespeichert und führen Funktionen aus, wie das Wiedererkennen von dir, wenn du auf unsere Website zurückkehrst, und hilft unserem Team zu verstehen, welche Abschnitte der Website für dich am interessantesten und nützlichsten sind.
Fashion Retailer COLLOSEUM rescued
Oberhausen, 01 July 2020. Attorney Axel Schwentker sells the business operations of Fashion FC Club GmbH to Schulz Fashion GmbH.
COLLOSEUM is a vertical fast fashion retailer for young and price-conscious women with a total of approx. 1,450 employees and a turnover of approx. EUR 80 million. In Germany, the Oberhausen-based group of companies mainly consists of the non-operating holding company F1RST Retail AG, the operating Fashion FC Club GmbH (FFCC) and UFB Germany GmbH.
The company operates approx. 135 stores in Germany as well as stores in Austria and the Baltic States.
The overall difficult industry environment, frequent changes in management as well as an unfinished, initiated restructuring process in combination with the severe cutbacks in the retail sector caused by the Corona pandemic, forced the F1RST Retail and the FFCC to file for insolvency on March 30th, 2020. Attorney at law Axel Schwentker from the law firm Rechtsanwälte Schwentker – Bückmann GbR was appointed as (preliminary) insolvency administrator by the Local Court of Duisburg. An insolvency application was filed for the affiliated UFB GERMANY on April 15th, 2020, and attorney Tanja Bückmann was appointed as (preliminary) insolvency administrator.
Despite additional challenges, such as temporary closures of stores due to Covid-19 measures, the preliminary insolvency administration succeeded in quickly stabilizing the Company’s business operations, thus laying the foundation for the launch of an international investor process. Within only 6 weeks, the creditors‘ committee was able to review several negotiated, signed, and eligible purchase agreements. Finally, the creditors’ committee decided to award the Schulz Fashion GmbH with the contract as it had submitted the most viable and attractive offer: 104 of the overall 135 stores together with their employees will be taken over as of July 1st, 2020 in the course of an asset deal.
ACXIT Recovery Management acted as the exclusive M&A advisor to Fashion FC Club GmbH and the preliminary insolvency administration during the investor process.
About Schwentker ⋅ Bückmann GbR:
The owner-managed law firm Schwentker – Bückmann is exclusively specialized in insolvency administration and provides many years of experience in insolvency and restructuring. The company was founded on 01.01.2003 and has been managed ever since by its partners at the Oberhausen office. Today the team consists of approx. 40 employees. (https://rae-sb.de/)
About ACXIT Recovery Management:
ACXIT Recovery Management, a part of ACXIT Capital Partners, is an independent consultancy firm exclusively dedicated to distressed mergers & acquisitions. ACXIT Recovery delivers tailored solutions and transactions for small and medium sized companies as well as for insolvency administrators. The managing partners of ACXIT Recovery have been in charge of more than 100 successful transactions in restructuring and insolvency situations over the last eight years.
ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. As an independent and privately owned firm, ACXIT maintains offices and representations in Frankfurt, Berlin, Munich, Zurich, Hong Kong and New York as well as strong alliances in the UK, France and India.
Christian Nicolas Bächstädt, Managing Partner