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No investor found: large German retailer finally before the end after bankruptcy

Staples: the German retail giant risks definitive exit

A large German retailer is about to go bankrupt. The bankruptcy was supposed to have been declared a few months ago. Now the end of Staples seems sealed. The branches will likely disappear gradually because no investor could be found.

Almost four months after Hamburg office supply retailer OfficeCentre GmbH filed for insolvency, its Staples office markets are on the verge of collapse. “Despite intense research, an investor able to continue the business operations of the office supply company has not been found in the long term,” bankruptcy trustee Sven-Holger Undritz said Wednesday in response to a request. DPA. “After the opening of the bankruptcy procedure, the orderly withdrawal from the market should now begin with the sale of the goods in the branches”.

According to initial information from the bankruptcy administrator, the company was the largest stationery retailer in Germany with around 700 employees, 50 branches of the “Staples” brand and an online shop. The former wholesale division of Staples, which belongs to the French company Lyreco and operates under the name of Lyreco Advantage, is not affected by the bankruptcy of OfficeCentre.

After Staples’ bankruptcy: Despite numerous candidates, the retailer was unable to find an investor

Before bankruptcy: Staples was Germany's largest office supply retailer for years.
Before bankruptcy: Staples was Germany’s largest office supply retailer for years.

IMAGO / They have Bode

“I am very sorry that we have not been able to attract an investor to the company,” said Undritz. More than 120 potential buyers were contacted and negotiations continued with various interested parties until last week. “However, the thorough examination of OfficeCentre GmbH’s business model by interested parties in relation to urgent investments for a realignment in the market resulted in potential investors withdrawing from the process and no offer was made for a continuation at length. term of the Staples markets “.

Undritz and OfficeCentre CEO Oliver Lux pointed out that employees have been struggling with management for three months for a restructuring. Undritz was appointed provisional liquidator for OfficeCentre GmbH on 7 February by the Hamburg district court. The bankruptcy procedure was opened on 1 May. Creditors have until June 20 to appeal. A meeting of creditors was scheduled for 20 July (AZ. 67g IN 33/22).

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