US EditionInsolvency Service Action Returns £57.5m to the Economy - Credit Connect
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The cooperative Konsum Weimar with department stores in Weimar and five other cities in Thuringia and Saxony has filed for insolvency in self-administration.
Another insolvency affects the German fashion market: the Weimar Cooperative is bankrupt. As a result, branches have already been closed - more are to follow.
Insolvency Service action returns £57.5m to the economy - Credit Connect
Latest figures revealed by the Insolvency Service show that £57.5 million has been returned to the UK economy in the past year, and over 69,000 people have been supported through emergency redundancy payments. The Annual Report and Accounts show that Insolvency Service Official Receivers handled 10,817 new insolvency cases during 2024-25 , this has resulted in a return of £57.5 million to the economy through distributions to creditors and debtor…
The Weimar Consumer Cooperative has filed for insolvency on its own, thus reacting to persistent economic burdens. The branches in Thuringia and Saxony are still open.
thueringer-allgemeine.de
Board members want to bring the traditional Weimar company out of the crisis with their own responsibility. Millions of heavy loans are burdened by the cooperative.
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