Görtz shutters flagship store amid investor search failure
The German shoe retailer Görtz has declared bankruptcy and has been unable to find an investor. Consequently, the company is closing its stores, including its flagship location with substantial space in Hamburg. This is yet another example of a German company facing serious challenges.
Dr. Gideon Böhm, the interim insolvency administrator, confirmed that no investor was found for the store in Hamburg. The store on Spitalerstraße, which occupies more than 54,000 square feet, will be returned to the owner at the end of April.
The website dlahandlu.pl reports that the final sale at Görtz's largest store has already ended, and employees will receive termination notices. Sixty-five people are set to be laid off.
On the market for 150 years: the German shoe chain is going under
Earlier, Görtz closed its location in the Alstertal shopping center, and the store in Darmstadt will cease operations in mid-April. The process of finding investors for other locations is still ongoing, though the number of at-risk stores has not been disclosed.
Görtz, founded in 1875, is one of the oldest shoe chains in Germany. The company, which once operated several hundred stores in Germany and Austria, has been struggling with financial issues for years. In January 2025, another bankruptcy was declared despite earlier support from investor Bolko Kissling.
The firm, known for selling high-quality footwear, offered products from both its own brands and well-known international brands. Despite its rich history, the company could not withstand current market challenges such as declining consumption and the growing popularity of e-commerce.
Wave of bankruptcies in Germany
Görtz is not the only German company forced to restructure its operations. At the end of March 2025, the District Court in Bielefeld declared the bankruptcy of three subsidiaries of Gerry Weber, a German clothing brand.
The decision affects Gerry Weber DE GmbH (responsible for retail operations in Germany), E-Gerry Weber Digital GmbH (operator of the online store), and Life-Style Fashion GmbH (supplier to wholesale customers). This fashion group, founded in 1973, also has showrooms in Poland.
Problems also impact smaller German companies. The family-owned construction company Frank Berninger GmbH from Lower Franconia is also on the brink of bankruptcy. The company has filed for bankruptcy, but no investor has been found yet, so closure is a possibility. The lawyer representing the company indicated that "the debts are too high" for the company to continue operations in its current form.
