Kienast acquires Schuhpark Fascies with Luther

8 July 2019

The Kienast Unternehmensgruppe acquires Schuhpark Fascies GmbH as part of an insolvency plan and was legally advised by Luther.

The Kienast Unternehmensgruppe is one of the leading shoe retailers in Germany. Founded in 1953, the family-owned company is represented on the market with around 500 sales locations. Schuhpark Fascies GmbH, also one of the leading shoe retailers in Germany, filed an application for the opening of insolvency proceedings in its own administration at the beginning of 2019.

Following a structured investor process and a five-month restructuring phase, the Kienast Unternehmensgruppe acquired all shares in Schuhpark Fascies GmbH as part of an insolvency plan. In the self-administration process, 70 of the total of 88 branches and 700 of 900 jobs were sustainably secured and taken over by Kienast.   

A team from Luther Lawfirm led by Dr Thomas Halberkamp (Corporate / M&A) and Vincent Tiepold (Distressed M&A / Restructuring) advised the Kienast Group during the transaction in the self-administration proceedings and, together with the management of Schuhpark Fascies GmbH, drew up an insolvency plan which the creditors agreed to in full.

For the Kienast Group:

Luther, Corporate / M&A / Restructuring: Dr Thomas Halberkamp, Vincent Tiepold (both lead managers), Andrea Metz, Dr Daniel Schubmann

Luther, Commercial: Jens-Uwe Heuer-James, Dr Kuuya Josef Chibanguza

Luther, Tax: Jens Röhrbein