Type
Bankruptcy
Country
Germany
Region
Baden-W├╝rttemberg; Karlsruhe; Pforzheim, Stadtkreis
Location of affected unit(s)
Pforzheim
Sector
Retail
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Sale Via Stalls And Markets Or Other
47.91 - Retail Sale Via Mail Order Houses Or Via Internet

1,300 jobs
Number of planned job losses
Job loss
Announcement Date
28 August 2023
Employment effect (start)
28 August 2023
Foreseen end date
31 January 2024

Description

The mail order company Klingel closes and lays off 1,300 employees at its headquarters in Pforzheim. The mail order company had filed for insolvency in May. However, the Klingel group was unable to find investors. The reason for the insolvency is a decline in turnover and increased costs.

The layoffs will take place in three waves. The first part of the employees will be laid off in November 2023. The majority will be laid off at the end of January 2024, when the company ceases operations. Only a very small number will remain employed a little longer to process returns.

The trade union Verdi calls the closure a disaster. The works council is stunned and accuses the management. They had glossed over the situation for far too long and had not reacted in time. However, a social plan has already been negotiated.


Sources

  • 28 August 2023: SWR (online) (www.swr.de)
  • 28 August 2023: Badische Neueste Nachrichten (online) (bnn.de)

Citation

Eurofound (2023), Klingel, Bankruptcy in Germany, factsheet number 200255, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200255.