There is hope of a new start for the insolvent Klier hairdressing chain from Wolfsburg. The creditors have agreed to a restructuring plan, the company announced on Wednesday.
Of the previous 8,500 employees, around 6,400 employees could keep their jobs through the restructuring measures, it said. Klier Hair Group GmbH expects to end the self-administration process at the end of April. “This proves the trust of the creditors in the sustainable restructuring of the company. The newly established Klier Hair Group can – despite Corona – emerge stronger from the bankruptcy,” said attorney Silvio Höfer, who represents the interests of the creditors as trustee in these proceedings. A slump in sales during the Corona crisis pushed Germany’s largest hairdressing chain into bankruptcy at the end of 2020.
500 unprofitable and expensive shops dense
The restructuring started in September 2020. In order to save the chain, Klier said it had closed around 500 stores, including mainly permanently unprofitable branches and expensive downtown locations. 850 shops can still be operated. “Thus we succeeded in (…) maintaining the majority of the branches and jobs”, Managing Director Michael Klier is quoted in the announcement.
The insolvent company should be preserved. A boost is expected from the opening of the hairdressing salons on March 1st. (02/26/2021) more
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The Klier hairdressing chain from Wolfsburg is suffering from the consequences of the corona crisis. The family business with 1,400 salons across Germany has slipped under the insolvency protection umbrella. (08.09.2020) more
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