A major German furniture chain, Opti-Wohnwelt, has filed for insolvency last month. The future of its 41 stores across Germany is currently uncertain. The company has applied for insolvency proceedings under self-administration at the Schweinfurt District Court. The court has approved the application and appointed attorney Stefan Debus as the insolvency administrator.
Recent reports from Lausitzer Rundschau say that Opti-Wohnwelt Group is currently working on a viable restructuring plan.
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Opti-Wohnwelt's recent expansion failed to meet expectations, leading to financial difficulties. The chain was among the top 20 largest furniture retailers in the country. In 2021, the company expanded by acquiring 20 new stores, but these additions did not perform as hoped and contributed to financial strain.
Opti-Wohnwelt reported revenues of approximately 220 million euros in 2023. Despite this substantial income, the company struggled to withstand economic pressures.
Source: www.chip.de