German mail order group restructuring in debtor-in-possession proceedings

German mail order group restructuring in debtor-in-possession proceedings

The Klingel Group, one of the largest mail-order companies in Germany, is repositioning. K – Mail Order GmbH & Co. KG, the group’s main company based in Pforzheim, will continue its transformation course as part of a restructuring procedure in debtor-in-possession proceedings.

In addition to K – Mail Order GmbH & Co. KG, the Hamburg subsidiaries IMPRESSIONEN Versand GmbH and SCHNEIDER GmbH & Co. KG are also in debtor-in-possession proceedings. The three companies employ around 1,800 people. Other companies in the Group, which employ a total of more than 250 people, are not affected by the measures.

In recent years, the Klingel Group has developed into a multichannel provider with a series of targeted transformation measures. However, the digitalisation of sales and marketing alone is not enough to continue to do justice to the market environment, which has changed dramatically in recent months. By concentrating on strong product and sales brands, focusing on online retail in addition to its print business, and integrating processes and data, the Group aims to expand its portfolio and portfolio in the future.  This action is also intended to strengthen the Group’s resilience to be able to react even more quickly to market and customer requirements.

The group has cited difficult market conditions, largely due to the significant consumer restraint since the beginning of the Ukraine war, significantly increased costs and the high inflation. In addition, there has been a high level of liquidity commitment in stock due to delays in supply chains during the pandemic. These are very similar conditions as experienced across Europe including the UK in the past year or so.


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