Goodwin's German team has advised Prime Footwear Investors AG ("Prime Footwear") on the acquisition and financing of the insolvent retailer Salamander Deutschland GmbH & Co. KG ("Salamander") and Schuhhaus Klauser GmbH & Co. KG ("Klauser").
Salamander and Klauser have been in insolvency proceedings since December 2022. The acquisition by Prime Footwear took place within the framework of an insolvency plan under which both companies will be continued under the management of Prime Footwear as the new shareholder. With the entry of Prime Footwear the majority of the approximately 1,000 jobs will be secured.
Prime Footwear Investors AG is an association of experienced managerial personalities with profound knowledge of the footwear industry as well as renowned retail experts: Franz W. Wiest, the Brandstetter-Finger family and Convergenta Beteiligungsgesellschaft are the main shareholders. In addition, the entrepreneurs Peter Prange, Günter Althaus and Lothar Schäfer are also involved.
The Goodwin team, led by Markus Käpplinger, consisted of Heiko Penndorf, Bastian Schmack, Stefan Riegger, Robert Jochim and Nadine Gommel.