Overview
- The retailer is running clearance sales across many branches with steep discounts after the company fell back into insolvency.
- A Bielefeld court opened preliminary insolvency proceedings and named PLUTA lawyer Stefan Meyer as provisional administrator, and most stores stayed open during the process.
- About half of the 87 remaining locations have no buyer and are now slated to close, according to the administrator’s office.
- The investor search reached more than 300 potential buyers, with six still active and two weighing a smaller Hammer that keeps a reduced set of stores.
- Paychecks are covered for now through Germany’s insolvency wage scheme, and closures could leave large retail boxes empty, as seen in Zeithain where a listed Bavarian landlord counted on Hammer as an anchor tenant.