Overview
- The filing was confirmed by an HBK spokesperson, with the company using Germany’s self-administration process to pursue a restructuring.
- A restructuring specialist from the consultancy Innovatis has been working with management since the start of the week to craft a rescue plan.
- HBK reports that shops remain open and that employee pay is secured for the coming months through insolvency benefits.
- Planned measures under development include cost reductions, a strategic review of the 22-store network, and efforts to open new sales and distribution channels, with potential branch closures not ruled out.
- The regional bakery, founded in 1963 and employing more than 120 people, was first reported to be in difficulty by the Magdeburger Volksstimme.