Ikarus, the specialist and online retailer for designer furniture, has filed for bankruptcy. A new investor needs to be found by March. Ikarus Design Handel GmbH, located in Gelnhausen (Main-Kinzig district) in Hessen, filed for bankruptcy in early January, as confirmed by the office of Peter Gangfuß, who was appointed as the provisional trustee by the Hanau court. This information is reported on Faz.net.
The proceedings began on January 10. An investor is expected to be secured by March. The sales in the three branches in Stuttgart, Gelnhausen, and Frankfurt, where Ikarus operates a four-story furniture department store of 2,000 square meters on Hanauer Landstrasse, will continue as usual. Founded in 1993, Ikarus has been releasing an annual catalogue with a circulation of 650,000 copies for almost as long. Unlike its competitors, Ikarus was an early adopter of placing design furniture, lamps, and accessories for home and garden, office, bathroom, and kitchen in an online shop, which now constitutes 80 to 90 percent of its revenue along with catalogue orders.
All renowned designer brands are featured, including Thonet, Vitra, Arne Jacobsen, and Marcel Breuer. There is also an affordable in-house collection, constituting about 15 percent of the assortment. This collection is also sold in Austria and Switzerland.
Source: Faz.net