BEITEN BURKHARDT has advised Nils Krause, lawyer, (ECOVIS Insolvenz und Sanierungs AG) as insolvency administrator of TOM TAILOR Holding SE.
TOM TAILOR Holding SE announced the sale of all shares in Tom Tailor GmbH, Hamburg, to associated companies of Fosun International Limited.
TOM TAILOR Holding SE, located in Hamburg, should have filed an insolvency petition on 9 June 2020. This was mainly due to obligations to the loss-making subsidiary Bonita GmbH. The competent local court of Hamburg had appointed lawyer Nils Krause of ECOVIS as preliminary insolvency administrator. After the opening of the proceedings on 15 July 2020 the local court appointed him as insolvency administrator. The assets of Bonita GmbH are subject to a protective shield procedure. Tom Tailor GmbH is not concerned. Due to the coronavirus crisis, Tom Tailor GmbH has in the meantime been promised additional financing, secured by guarantees in an amount of EUR 100m from the Federal Republic of Germany, the city of Hamburg and the German state of North Rhine-Westphalia.
TOM TAILOR Group is an international, vertically integrated fashion company focused on casual wear in the medium price segment. The product portfolio is complemented by an extensive range of fashionable accessories. With its brands, the company covers the various core segments of the fashion market.
Fosun International Limited is a Hong Kong-based investment holding company engaged in financial, property, steel and healthcare businesses.
Beiten Burkhardt team was led by Dr Christian Ulrich Wolf (Picture) and Torsten Cülter and included Sebastian Schröder, Chiara Stubenrauch, Dr Michael Hils, Rainer Süßmann, Dr Dirk Tuttlies, Jan Christian Eggers and Martina Dierks.
Involved fees earner: Jan Christian Eggers – Beiten Burkhardt; Torsten Cülter – Beiten Burkhardt; Martina Dierks – Beiten Burkhardt; Michael Hils – Beiten Burkhardt; Sebastian Schröder – Beiten Burkhardt; Chiara Stubenrauch – Beiten Burkhardt; Rainer Süßmann – Beiten Burkhardt; Dirk Tuttlies – Beiten Burkhardt; Christian Ulrich Wolf – Beiten Burkhardt;
Law Firms: Beiten Burkhardt;
Clients: Nils Krause;