We use cookies to improve our service for you. You can find more information in our data protection declaration. Bankrupt German erotica chain Beate Uhse is to relaunch under the name "be you" following all deadlines for objections in its insolvency proceedings. A reduction in fixed overheads was a prerequisite for starting over.
The company added that Chief Executive Michael Specht would retain his position in the post-insolvency company. Its main stakeholder would be Robus Capital Management, the firm said from its headquarters in Flensburg, Germany, on Wednesday. The Beate Uhse erotica chain began as a mail-order shop founded by the firm's namesake. It claimed to have opened the world's first sex shop in Germany in Following the outsourcing of the logistics unit and a considerable reduction in fixed overheads, the new stakeholder plans to focus on online retail where newer companies had pushed out the former Beate Uhse chain.
According to earlier reports, creditors and investors are likely to lose everything in the insolvency proceedings. Staff will be down to , from before the firm went bankrupt. Insolvency Administrator Sven-Holger Undritz described the restructuring process as "strenuous for all sides concerned," pointing to a complex company setup with subsidiaries and holding firms in several countries.
Germany makes no secret of its love affair with sex shops located in shopping centers and transport hubs up and down the country. But the age of broadband Internet is forcing erotic retailers to rethink their strategy. Sex chain Beate Uhse's filing of an insolvency rescue plan has left Germany wondering why the firm failed to keep pace with the revolution it triggered post-war. Its new head Michael Specht says he's still "confident.
Alibaba postpones Hong Kong market listing - Air travel raises environmental issues in Germany. The job description for Bangkok's firemen has changed quite a bit: Instead of fires, they deal with hundreds of snakes.
