Entire Sales Process
Following the insolvency application of Warendorf – Die Küche GmbH on 11th March 2019, Warendorf Retail’s management also filed for insolvency on 8th of April 2019. On the 8th of April 2019, Mr. Christoph Nüsser was appointed as the (preliminary) insolvency administrator by the district court of Cologne. On 1st September 2019, the purchase contract was signed with a strategic Asian investor headquartered in Hong Kong. Moreover, in the context of the transaction all jobs of the flagship stores in Dusseldorf and Berlin could be maintained.
The team of CVM Capital Value Management GmbH around managing partner Jörg Schuppener was mandated on 12th April 2019 to support the business restructuring process and to conduct a structured investor process in consultation with the parties involved. Due to the successful collaboration with AHW and the management of Warendorf Retail, CVM successfully sold the company on 1st September 2019 to a strategic Asian investor from Hong Kong. Both the insolvency administrator and the creditors' committee have approved the sale.
The strategic Asian investor is predominantly engaged in the high-end project business for kitchen concepts and kitchen appliances. As a long-standing customer, the investor appreciates the products and the high quality of the brand WARENDORF. The investor is convinced that the potential of the brand WARENDORF can be especially increased further by the utilisation of its network in Far East.
Capital Value Management GmbH (“CVM”) provides operational and independent corporate finance consultancy to companies going through transitional or restructuring processes as well as other exceptional situations. CVM has offices in Dortmund, Berlin and Hamburg. CVM’s focus is on guiding the transactions of medium-sized companies in industry, trade and services with a sales volume between € 10 and € 250 million. CVM designs, supports and coordinates the entire M&A process in close cooperation with the clients’ tax and legal advisors.
AHW Insolvenzverwaltung is one of the major regional insolvency administrations. The team consists of more than twenty employees and has long-standing experience in insolvency administration and receivership processes. Furthermore, due to the AHW cooperation network, AHW also benefits from the know-how of experts that are specialised in legal, tax and business issues. Thus, the well-established cooperation under one roof leads to fast, effective and competent solutions.