Cologne, November 26, 2024. A GÖRG team led by Cologne partner Christopher Schiller has appointed the insolvency administrator Dr. Florian Linkert from BBL advised on the sale of Rise Up Fashion GmbH (Oceansapart) to a subsidiary of Snocks GmbH as part of the insolvency proceedings. Snocks has taken over the main business operations and some of the employees.
Rise Up Fashion GmbH, founded in Berlin in 2017, produces and sells activewear (sports and yoga clothing) under the Oceansapart brand, primarily in Germany, France, Italy and Poland via web shops. The company achieved sales of around 65 million euros in the 2023 financial year and employed around 130 employees. After a realignment of the company and a lack of financing, the company had to file for insolvency at the Charlottenburg District Court in July 2024.
GÖRG, together with PLUTA Management GmbH, advised the team led by insolvency administrator Dr. Florian Linkert from BBL (in particular Dr. Lena Verdenhalven and Charlotte Roderfeld) comprehensively discussed the successful sale of the business operations (via an asset deal) to Snocks as part of the M&A process. The transaction has already been completed.
Snocks GmbH, headquartered in Mannheim, was founded in 2016. The start-up company became known for selling socks and has now expanded its range to include underwear and sportswear. According to its own information, Snocks employs over 100 people and generated sales of around 70 million euros in 2023.
Consultant insolvency administrator
GÖRG partnership of lawyers mbB
Claus Christopher Schiller (lead, partner, corporate law/M&A, Cologne)
Dr. Ulrich Fülbier (Partner, Labor Law, Munich)
Dr. Katharina Landes (Partner, IP, Cologne)
Dr. Daniel Schmitz (Partner, Insolvency Law, Cologne)
Dr. Florian Schmitz (Partner, Data Protection Law, Frankfurt)
Dr. Monique Pröpper (Associate, Corporate Law/M&A, Cologne)
PLUTA Management GmbH
Ludwig Stern (Partner, Munich)
Laura Holzmannstetter (Munich)
About GÖRG
GÖRG is one of the leading independent commercial law firms in Germany. With around 350 professionals from the areas of legal advice, tax advice and auditing at five locations in Berlin, Frankfurt am Main, Hamburg, Cologne and Munich, we advise well-known domestic and foreign companies, medium-sized companies as well as financial investors and listed corporations from all areas of the economy and the public sector.
2024-11-26 11:10:00