BCLP and White & Case advised H&S Schuhhandelsgesellschaft mbH on Restructuring process

International law firm BCLP, in collaboration with White & Case, is supporting H&S Schuhhandelsgesellschaft mbH (H&S) in its planned restructuring under a court-supervised protective shield proceeding.

On 30 July 2025, the company filed for debtor-in-possession proceedings with the Local Court of Aschaffenburg (Insolvency Court), which approved the application on 1 August 2025.

The management team of H&S, consisting of Eike Schmidt and Oliver Hauk, remains in office and fully authorized to act. The leadership is strengthened by restructuring specialist and BCLP Counsel Katrin Schröder, who has been appointed as Chief Restructuring Officer. The BCLP advisory team also includes Senior Associate Daniel Odenthal in the Restructuring & Insolvency practice.

Dr. Nicolai Fischer of White & Case in Frankfurt has been appointed as preliminary custodian. Together with his team, Fabian Volk and Julia Bäuml-Zettelmann, he is overseeing the proceedings in the interest of creditors and monitoring the management’s actions.

Through the protective shield proceeding, H&S is seizing the opportunity for a sustainable economic realignment. The objective is to reposition the company for long-term viability and to safeguard jobs.

Securing the Future and Continuing Operations

“Our primary goal is to restore the company’s financial stability, continue operations successfully, and preserve jobs,” says Eike Schmidt, Managing Director of H&S. More than 80 employees across the company have been informed about the current situation at their respective locations. Wages and salaries are secured through the German Federal Employment Agency until the end of October 2025; from November onward, the company will resume payments independently.

“For employees and customers, business will continue as usual,” adds Katrin Schröder, Chief Restructuring Officer. Even prior to filing, H&S had initiated a restructuring course that is already showing positive developments.

“This path will now be consistently pursued under debtor-in-possession proceedings. The company has strong prospects of emerging from the restructuring process in a strengthened position,” says Dr. Nicolai Fischer, preliminary custodian for White & Case.

Challenges and Outlook

H&S’s financial difficulties stem primarily from rising costs in energy, personnel, and rent. Additionally, the anticipated economic recovery following the COVID-19 pandemic failed to materialize, preventing the planned repayment of pandemic-related loans. Ongoing political and economic uncertainty continues to dampen consumer spending. As part of the restructuring process, H&S is working intensively with all stakeholders to develop a stable and future-proof solution.