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East German Parfümerie Thiemann Files for Self‑Administered Insolvency

The company says the move is meant to restructure debt and assess which stores can remain open to preserve viable outlets and jobs.

Overview

  • The family-owned Parfümerie Thiemann filed for a Planinsolvenzverfahren in Eigenverwaltung on Saturday, beginning a court-backed, self‑administered insolvency process.
  • All 13 brick‑and‑mortar stores and the online shop remain open for now while management and insolvency administrators carry out a store‑by‑store viability review.
  • The Thiemann family cites pandemic-era sales losses, accumulated credit taken to cover rents and wages during lockdowns, falling shopping‑centre footfall and long-term rents as the main causes of the crisis.
  • Between about 60 and 70 employees are affected and the company says it will try to preserve as many jobs as possible but does not rule out closures or redundancies.
  • Planinsolvenz in Eigenverwaltung lets company managers stay in control while they negotiate a restructuring plan with creditors, and the coming weeks will decide which locations are kept, which are closed, and how local landlords and staff are impacted.