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novaerion guides successful restructuring as CRO and general representative
The restructuring of Stadt-Parfümerie Pieper GmbH Parfümerie International has been successfully completed. During the discussion and voting hearing at the Bochum District Court, creditors approved the insolvency plan. The court subsequently confirmed the plan, paving the way for the long-term continuation of the company.
As part of the debtor-in-possession proceedings, novaerion was responsible for the operational restructuring. Sven Pursche and his team served as Chief Restructuring Officer (CRO) and general representative, managing the preparation and implementation of the restructuring measures alongside the company's management. In parallel, a structured investor process was carried out, which was successfully concluded with the acquisition by AIH Holding GmbH.
"With the confirmation of the insolvency plan, we have successfully completed the restructuring and provided the company with a clear future perspective. The past few months have shown what is possible when employees, customers, business partners, creditors, and all stakeholders work together toward a common goal," explains Sven Pursche, Partner at novaerion.
The insolvency plan enables the acquisition of the long-established perfumery chain by AIH Holding GmbH, owned by the French entrepreneurial Konckier family. At the same time, 115 branches and the vast majority of jobs will be preserved.
The proceedings were successfully concluded in just seven months. Once the confirmation order becomes legally binding, the insolvency proceedings will be terminated. Under the new ownership structure, Parfümerie Pieper aims to further strengthen its market position and continue its growth trajectory.
About novaerion
novaerion supports companies, shareholders, investors, and financiers in special situations, transformation, and restructuring processes. The focus is on developing and implementing sustainable solutions at the intersection of operational restructuring, financial reorganization, and M&A. The team supports companies from stabilization and turnaround through to the successful implementation of investor and transaction solutions.
Participating Advisors
Throughout the proceedings, the debtor-in-possession was legally advised by the law firm Grub Brugger Partnerschaft von Rechtsanwälten mbB. Dr. Philipp Grub served as the general representative for the debtor-in-possession and was supported by Dr. Lukas Herbert and Nora Sickeler.
Attorney Sarah Wolf (Anchor Rechtsanwälte) was appointed as custodian.
SIGMA Corporate Finance GmbH acted as M&A advisor for the proceedings and managed the structured international investor process.
Deloitte provided business management support, while Flick Gocke Schaumburg handled tax advisory services.
The pre-financing of insolvency benefits was secured by SK Dienstleistungen.
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