Follow-up solution for koelble & brunotte: PLUTA restructuring expert Ilkin Bananyarli finds investor for long-established fashion store in Stuttgart

Mr Ilkin Bananyarli from PLUTA Rechtsanwalts GmbH has achieved a follow-up solution for Koelble & Brunotte GmbH, the operator of the eponymous, long-established fashion store in Stuttgart city centre. Following intensive negotiations, the insolvency administrator has succeeded in finding an investor for the business. The buyer will acquire the operations as part of an asset deal, effective 1 June 2024, and keep on all 14 employees. The purchase agreement has already been signed.

From 13 June 2024 onwards, the city centre store will continue to offer premium womenswear and menswear from well-known brands as well as expert advice from a new address (Neue Brücke 3, Stuttgart), where customers will be able to buy items and consult with staff as usual. The current managing director will also remain on board. Mr Bananyarli, a specialist attorney, said, “I would like to express my gratitude for the good cooperation in recent weeks. Both staff and customers have stayed loyal to the business. This was an important prerequisite for the agreement now reached.”

He added, “Thanks to the support of all involved, we are able to preserve this long-established store and the jobs. The solution is also of benefit to creditors, as it will significantly increase their recovery rate. This is a great outcome in an industry facing many challenges at this time.” Mr Bananyarli is being supported in the PLUTA restructuring team by attorney Mr Sven Heuser.

Premium fashion since 1882

The company runs the eponymous large fashion store in Stuttgart city centre. Its roots go back to 1882. koelble & brunotte offers selected fashion collections for women and men from well-known designers and top international labels as well as fragrances, cosmetics and accessories in its store and online shop. Other hallmarks of the business include the expert advice provided by staff and its own studio, where garments are produced, tailored and altered.

Mr Marco Mangold, who will remain at the helm of the business going forward, said, “I am delighted that we have found such a good solution and that our presence in Stuttgart will be maintained. I am confident that our customers will quickly accept the new location, as it is very central, like they are used to, but still has good parking.”

Effective 1 June 2024, the Local Court of Stuttgart opened the insolvency proceedings and appointed Mr Ilkin Bananyarli from PLUTA Rechtsanwalts GmbH as administrator. He had already been involved as provisional insolvency administrator since mid-March 2024.