The German footwear retailer Leiser has asked the court in Augsburg for protection from its creditors under the country’s new bankruptcy regime. The company had been in the red for a few years and had reportedly sacrificed investments to compensate for cash flow problems. Despite the parent company selling off its headquarters in Augsburg last year to a real estate developer, the company was ultimately unable to cope with the seasonal fluctuations in sales. The bankruptcy regime provides some hope of an internal restructuring, but the company, which enjoyed €200m in annual turnover, looks unlikely to be able to keep all 132 of its stores in Germany. There are currently two Leiser stores in Prague.
