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SportScheck branch in Munich: In the maelstrom of the Signa crisis

Photo: Lino Mirgeler/ dpa

The crisis of René Benko's business empire has also affected the sporting goods retailer SportScheck. The company is facing insolvency. The management will file for insolvency proceedings at the Munich District Court in the course of the day, SportScheck announced. The company, which has 34 branches nationwide and an annual turnover of around 350 million euros, announced on Thursday that SportScheck was insolvent after the insolvency filing of the Signa Holding.

So far, SportScheck has been part of the far-flung empire of Austrian real estate investor René Benko. Its Signa Holding had filed for insolvency on Wednesday. It is expected that other Signa companies and their subsidiaries will follow. SportScheck was part of Benko's department store division Signa Retail.

The takeover of SportScheck by the British fashion retailer Frasers Group, which was announced in the autumn, "will not be completed for the time being; However, Frasers remains committed to its acquisition plans," the company said. Other potential investors have expressed interest in the takeover of SportScheck, and the process is now open again. "This makes SportScheck confident that it will find a new strong partner who will ensure long-term stability for the company."

All branches, customer service and the online shop continued to operate as normal. Managing Director Matthias Rucker said that the insolvency was bitter, but also an opportunity to strengthen the company with its contractual partners and creditors in the long term. The restructuring and investor process is expected to be completed by March at the latest.

SportScheck has been part of Signa Retail since 2019, previously it was part of the Otto Group. The company sells a wide range of sporting goods. The origins of SportScheck go back to the time after the Second World War: In 1946, when there was a lack of warm clothing, Otto Scheck tailored his first collection for winter sports in Munich from old military stocks.