Overview
- The Amtsgericht Cochem ordered a preliminary insolvency procedure for Francisco Deutschland GmbH on 21 May, placing Jens Lieser in charge as provisional administrator.
- All 19 company stores and three franchise outlets in Germany remain open for customers, while the chain’s online shop is currently suspended.
- Around 80 employees were informed of the situation and their wages for May through July are covered by insolvencygeld that has been pre-financed to ensure prompt payment.
- Lieser is holding talks with landlords, suppliers, banks and interested investors, and has already recorded initial inquiries about taking over individual stores.
- The immediate cause was the April collapse of Dutch parent Assisi BV, with broader retail pressures such as inflation and high energy costs complicating prospects for a rescue or sale.