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Well-Known Shoe Retailer Onygo Closes All German Branches, Including Saarland Location
Saarbrücken, Germany - The Onygo shoe adn fashion chain, which had been facing financial difficulties since June, is closing all 19 of its stores across Germany, including its location in Saarbrücken. The company filed for preliminary bankruptcy proceedings at the Hamburg District Court in June, but despite efforts by businessman frank Revermann too save the company and its 150 employees, a restructuring plan proved unsuccessful.According to a statement from Mr. Revermann, the closure is a result of “still massive consumption supply in the shoes” market. Despite concessions from landlords and suppliers, the investor process could not be concluded successfully. He also thanked the 150 employees for their commitment.Onygo operated 19 branches nationwide, including two in Hamburg, and two in Rhineland-Palatinate (mainz and Koblenz), in addition to the saarbrücken location.
This closure marks the end of the road for the shoe retailer.
