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GARANT SCHUH + MODE AG

euro adhoc: GARANT SCHUH + MODE AG
Insolvency Trustee announces quick resumption of central settlement (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
GARANT SCHUH + MODE AG will resume its core business, the central
settlement, as of the 25th decade. This is the result of intensive
negotiations that the company’s preliminary insolvency trustee,
Friedrich-Wilhelm Metzeler, has led with all parties involved over
the last few days. An agreement with the credit insurers was reached
at the beginning of the week. On Tuesday, an arrangement with the
banks that are most important to GARANT’s core business was achieved.
Subject to certain approvals, the banks grant an insolvency loan of
Euro 15 million. The consortium of banks has announced its final
decision for the weekend. 
In the insolvency proceedings for GARANT, the formal opening is
expected for early December. The creditors meeting will most probably
convene by the mid-February 2005.
end of announcement        euro adhoc 16.09.2004

Further inquiry note:

Jenny Bleilefens
Investor Relations
Telefon: +49(0)211-3386-311
jbleilefens@garantschuh.com

Branche: Consumer Goods
ISIN: DE0005853030
WKN: 585303
Index: CDAX, Classic All Share, Prime Standard
Börsen: Börse Düsseldorf / official dealing
Frankfurter Wertpapierbörse / official dealing
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Baden-Württembergische Wertpapierbörse / free trade

Weitere Storys: GARANT SCHUH + MODE AG
Weitere Storys: GARANT SCHUH + MODE AG
  • 08.09.2004 – 18:50

    euro adhoc: GARANT SCHUH + MODE AG / Subsidiaries of GARANT file for insolvency (E)

    Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. The indirect subsidiaries of GARANT SCHUH + MODE AG, the companies SALAMANDER SCHUH GmbH, SALAMANDER Schuhhandelsgesellschaft mbH, Salamander Shoes & Trend Company GmbH and SALAMANDER International GmbH have filed today a petition for commencement ...

  • 06.09.2004 – 20:33

    euro adhoc: GARANT SCHUH + MODE AG / GARANT files for insolvency (E)

    Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. The board of directors of GARANT SCHUH + MODE AG has resolved today to file a petition for commencement of insolvency proceedings on the grounds of illiquidity with the competent Local Court of Düsseldorf on September 7, 2004, in order to avoid further damage to the Company. The negotiations between ...