Former Fashionette GmbH files for insolvency shortly after sale by The Platform Group

BCR Online-Warenhandels GmbH (BCR), which operated the namesake luxury fashion online shop as Fashionette GmbH, has filed for insolvency. According to the official insolvency announcement, the Local Court of Offenbach am Main ordered the provisional administration of the company's assets on Wednesday. Lawyer Sebastian Netzel from the Frankfurt law firm Brinkmann & Partner has been appointed as provisional insolvency administrator. Consequently, any disposals made by the company are only valid with his approval.

The Platform Group (TPG) spun off the Fashionette business into the newly founded Fashionette GmbH in 2024. According to the commercial register, the company was renamed in July and subsequently relocated its headquarters from Düsseldorf to Offenbach am Main. The relocation was registered on Wednesday, the same day the court ordered the provisional administration. According to the site's legal notice, the online shop is now operated by Düsseldorf-based Fashionette Plattform GmbH, where TPG chief executive officer (CEO) Dominik Benner serves as managing director.

TPG announced in a corporate statement on Thursday that it had parted ways with BCR. The executive board stated that it had decided to discontinue proprietary trading in luxury products. Instead, it will focus strictly on platform activities and divest the remaining operations in the form of the company. The sale to a buyer based in Germany was completed on October 13, and the parties agreed not to disclose the purchase price. Neither the sale nor the simultaneously announced winding-up of the insolvent furniture subsidiary Digitec Living Brands will have a financial impact on TPG. The group's net assets, financial position, results of operations and operational development remain unaffected.

According to the list of shareholders submitted to the commercial register on October 14, the sole shareholder is Michael Witt. According to his website, he works as a restructuring managing director for the Neubrandenburg-based consultancy firm Viaexcrisi. The insolvency announcement also names Witt as managing director of BCR. However, he was only entered into the commercial register in this role on Thursday; until then, Benner was listed.

Fashionette became part of the Düsseldorf-based group at the end of 2022, when TPG became the online retailer's new main shareholder. The following year, shareholders approved the merger of the two companies, and Fashionette launched a platform model for luxury fashion.

This article was created with the help of AI.