Sound core of c.a.r.o. GmbH continues to operate

Munich, 05. July 2016. The sound core of c.a.r.o. GmbH, until its insolvency in April 2016 one of Germany’s largest retailers in the ladies’ wear segment, remains operative even though the insolvency proceedings opened. Sebastian Nolte, appointed insolvency administrator by the district court of Münster and lawyer of the law firm JAFFÉ Rechtsanwälte Insolvenzverwalter, stated: “We have realized a solution to continue the operation of 10 stores. This enabled us to secure 45 jobs. Due to particularly difficult circumstances of this insolvency process we consider this a success”.

2016_07_caro_RECOVWith effect as of 27 June 2016, the newly, in participation with the prior owner family founded Modeservice GmbH has taken over ten locations. Hence, the operations of c.a.r.o.’s boutiques in Bad Lauterberg, Dillenburg, Duderstadt, Haren an der Ems, Halberstadt, Mühlhausen (Thuringia), Northeim (Lower Saxony), Osterode, Rheinberg and Schöningen continue seamlessly.

In June 2014 c.a.r.o. GmbH was founded in order to take over the insolvent Carolin Vanity GmbH & Co KG which has built up a widely known reputation in the German ladies’ wear segment with its leading brand c.a.r.o. for the past 30 years. After an unanticipated mild winter and a weak winter sale, the company had to file for insolvency due to liquidity issues in the end of April 2016. At that time, c.a.r.o. GmbH operated 45 ladies’ wear retail outlets with about 200 employees particulary in small and mid-sized cities in North Rhine-Westphalia, Hesse, Lower Saxony and Thuringia.

ACXIT Recovery Management, a subsidiary of ACXIT Capital Partners Group, exclusively supported the insolvency administrator as M&A advisor in this transaction.

About JAFFÈ Rechtsanwälte Insolvenzverwalter

The law and insolvency practice JAFFÉ is predominantly active in the field of insolvency administration, insolvency law and the associated areas of law on a national level; it was founded by Dr. Michael Jaffé in 1993. They currently operate in eight locations, with seven insolvency administrators who are appointed in six different federal states. In addition, Dr. Jaffé is often active in group insolvency proceedings with an international reach. (www.jaffe-rae.de)

About ACXIT Recovery Management

ACXIT Recovery Management as 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 were in charge of more than 100 successful transactions in restructuring and insolvency situations over the last eight years.

ACXIT Capital Partners is a leading international corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. Since 1998, we offer our clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as restructuring, debt and strategic advisory. As an independent, privately owned firm we maintain offices in Frankfurt, Berlin, Munich, Zurich, Vienna and Hong Kong as well as strong alliances in France, China, India and the USA. (www.acxit.com)

press contact

ACXIT Recovery Management GmbH
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Christian Nicolas Bächstädt, Managing Partner
Tel.: +49 (0)89 – 215 460 00
E-mail: munich@acxit.com

transaction team

Christian Nicolas Bächstädt, Managing Partner
Frank Bruder, Managing Director
Julia Rall, Senior Analyst
Martin Eichler, Analyst