The chain has been struggling for some time now, but the crisis has been exacerbated by the group’s CEO Cornelius Everke’s resignation. The Cologne-based group has been undergoing countless issues over the last few months. Notably, spring saw the group’s annual budget report be pushed back on three occasions after the group was negotiating a loan of €30 million.
The last few years have also been difficult for the chain, especially after its initial public offering in October 2017 flopped. Over the past 12 months, the group’s activities have shown a deficit of 76.61% and Everke’s impending departure could signal further trouble for the chain.
Vanessa Hall will take over from Everke until April 2020. In the meantime, the chain’s future remains unclear.
