Overview
- Eterna confirmed it has filed for insolvency in self-administration at the Passau district court to continue a court-supervised turnaround.
- Sales chief Dirk Hesper and CFO Herbert Oelke remain in charge, with restructuring advisor Georg Bernsau of K&L Gates appointed by the court.
- The company says some secured creditors blocked its proposed property sale-and-lease-back, prompting the move to gain tools and liquidity for a restart.
- Planned measures include fully outsourcing logistics and executing the sale-and-lease-back, while potential store closures or layoffs have not been detailed.
- Roughly 900 employees are affected at a business generating about €100 million in annual sales, and the case underscores elevated insolvencies in German retail in 2025.