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Office Center GmbH, a subsidiary of the Office Center Group, filed for insolvency at the Hamburg District Court on February 7. As the company has now informed, an M&A process is to start soon to find an investor for the company.
Translated.
The insolvency administration for Office Center GmbH has Dr. Sven-Holger Undritz, Partner at White & Case, one of the leading international law firms in Germany with a great deal of expertise in the areas of insolvency and restructuring law: “This is the largest stationary retailer of office supplies in Germany. Business operations will continue without restrictions. First, we made sure that the wages and salaries can be paid to the employees on time despite the insolvency,” says Dr. Undritz in a first statement. “My team and I are currently getting an overview of the situation at the company, which was hit hard by Corona. In coordination with the provisional creditors’ committee, an M&A process will be initiated very soon to find an investor who will lead the company out of insolvency,” says Dr. Undritz further.
OfficeCentre GmbH specializes in the sale of office supplies and operates in Germany under the Staples brand. With 700 employees, OfficeCentre GmbH operates 50 branches nationwide and the online shop staples.de. Staples Solutions sold the retail and online business in Germany to Office Center in 2019. The Netherlands-based parent company was then sold to Dutch investment company Standard Investment in June 2021. Also on February 7, the Office Center Group had filed an application for a protective shield procedure under Dutch law and referred to the, literally, “strict and lengthy corona measures that were imposed on companies in the Netherlands and Germany”.
https://www.pbs-business.de/news/handel/15-02-2022-office-centre-in-deutschland-auf-investorensuche/
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