Germany's Atelier Gardeur avoids collapse after securing buyer
Troubled trouser specialist Atelier Gardeur has been acquired by Dutch retailer Duijndam Gruppe for an undisclosed sum. Duijndam Gruppe, owner of HV Polo, HV Society, Imperial Riding und Easy Rider, plans to stabilise Gardeur’s fulfilment capabilities in the short term and work towards repositioning the brand in Germany and abroad as it expands its sales in the long term.
“Gardeur’s acquisition has given us the opportunity to help and further develop one of Germany’s best-known and loved clothing brands out a difficult situation,” said Steef Duijndam, founder and CEO of Duijndam Gruppe.
“Over the past few weeks, I have been impressed by the concept, the processes and in particular, the commitment of the employees and CEO Gerhard Kränzle’s management and I believe that together we can bring the brand back to strength. In the next days I will present our plans to our customers to build their trust in the future of the brand as quickly as possible.”
The acquisition brings the efforts of administrator Biner Bähr of White & Case Dusseldorf, which had been trying to find a buyer for the struggling retailer, to a successful end.
“I am glad that, in the end, we have avoided the collapse of the Gardeur Group and made it possible for the company and its employees to have a future. This was only possible with a substantial help from creditors and employees. I am all the more pleased that we have found a strategic investor who not only brings a wealth of experience and contacts in the industry, but also a long-term vision for the Mönchengladbach-based brand,” said Bähr.
Duijndam was advised by Martin Tartsch (TRE/Eschborn) and Georg Kreplin from Kreplin&Partner (Düsseldorf), while Atelier Gardeur was advised by Thomas Kluth and Rebecca Piechowiak, both from Kluth Rechtsanwälte, Düsseldorf.
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