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Netherlands firm buys Gardeur out of insolvency
06
Dec '17
Courtesy: Atelier Gardeur
Courtesy: Atelier Gardeur
The family-run Duijndam Group from the Netherlands has signed a contract to save Gardeur Group, the tradition-rich trousers specialist based in Mönchengladbach, Lower Rhine, Germany. The aim is to stabilise supply in the short term and re-position and expand Gardeur as the German trouser brand on national and international markets in the medium term.

The Gardeur Group had filed insolvency proceedings in early October 2017. The transaction marks the successful end to the efforts undertaken by insolvency administrator Dr. Biner Bähr of White & Case Düsseldorf, who had fought very hard for an investor solution on behalf of Gardeur.

“The acquisition of Gardeur gives me the opportunity to further build and develop one of Germany’s most popular and renowned textile brands departing from a difficult situation. Over the past few weeks I have convinced myself of the concept, processes and especially the commitment of the employees and managers surrounding CEO Gerhard Kränzle and am convinced that we will be able to jointly lead the brand to a new position of strength. Over the coming days I will first personally introduce our ideas and plans to our customers with a view to strengthening their confidence in the brand’s future as quickly as possible,” said Steef Duijndam, founder and head of the Duijndam Group.

“I am happy to have prevented an asset stripping of the Gardeur Group thereby giving the company – and in particular most of its staff – a future. This only became possible by some painful contributions on the part of creditors and employees. I am all the more delighted to have a strategic investor in the form of the Duijndam Group that comes with not only outstanding experience and contacts from the textile industry but also a long-term vision for the Mönchengladbach site,” said Bähr. (RKS)

Fibre2Fashion News Desk – India


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