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K - Mail Order GmbH & Co. KG is to sell its BABISTA brand business to Vanderstorm Ventures GmbH & Co. KG effective 1 November 2023. The bid from Vanderstorm Ventures prevailed in the M&A process conducted by the debtor-in-possession management team. The purchase agreement was unanimously approved by the relevant bodies for the debtor-in-possession insolvency proceedings, especially the creditors’ committee appointed by the insolvency court, the Local Court of Karlsruhe.
As part of the sale, the customer addresses and inventories of the BABISTA menswear brand will pass to Vanderstorm Ventures, which already owns a number of brands. These include Jan Vanderstorm, a seller of menswear in big and tall sizes.
Discussions are currently ongoing with potential strategic investors for the other brands of K - Mail Order GmbH & Co. KG, the KLiNGEL Group’s main company. The group has been involved in debtor-in-possession insolvency proceedings since May 2023. As no investor could be found for the group as a whole, the multichannel mail-order retail business will continue operating until late January 2024 and will then cease trading. The company is being supported in the proceedings by the restructuring firm PLUTA. The insolvency monitor is attorney Mr Martin Mucha from GRUB BRUGGER, a law firm operating throughout Germany.