Karl Vögele applies for provisional debt-restructuring moratorium
Karl Vögele AG, known for the Vögele Shoes brand, has applied for a provisional debt-restructuring moratorium. The operating business may continue for the time being.
As reported in the Swiss Official Gazette of Commerce (SHAB), the See-Gaster in the canton of St. Gallen has granted Karl Vögele AG provisional debt-restructuring moratorium for four months. First had the View reported about it.
Karl Vögele AG operates 93 shoe stores under the Vögele Shoes brand, and the company is headquartered in Uznach (SG). The company has been in financial difficulties for years and had therefore been sold to the Polish CCC Group in 2018. In 2021, the German CM Shoes and the financial investor GA Europe took over the shoe retailer. At the time, they said they wanted to focus the Vögele Shoes brand even more strongly on the needs of Swiss customers and also expand the online business.
The provisional debt-restructuring moratorium for Karl Vögele AG means that the company may not be operated for outstanding receivables for the next four months. Operational business will continue. The owners now have until October to draw up a restructuring plan. Dr. Daniel Hunkeler of the commercial law firm Baur Hürlimann has been appointed provisional administrator. (ah)
