The local court of Aschaffenburg today approved the application of Adler Modemärkte AG and opened preliminary insolvency proceedings in self-administration pursuant to Section 270b (1), (2) of the German Insolvency Code, new version, according to a press release. Within the scope of the preliminary self-administration, the business operations of Adler Modemärkte AG shall be continued in their entirety and the company shall be restructured by means of an insolvency plan. The management board of the company will continue to have the power of administration and disposition. For its support, the management board has appointed the lawyer Dr. Christian Gerloff, who is an established expert in the textile retail sector with extensive experience in restructuring and insolvency cases, as general representative. The court has appointed the lawyer Tobias Wahl, Anchor Rechtsanwälte, as preliminary custodian (Sachwalter). The local court of Aschaffenburg also approved the applications of the subsidiaries Adler Mode GmbH, Adler Orange GmbH & Co. KG and Adler Orange Verwaltung GmbH for the opening of (preliminary) insolvency proceedings in self-administration pursuant to Section 270b (1), (2) of the German Insovlency Code, new version and appointed also Tobias Wahl, Anchor Rechtsanwälte, as preliminary custodian (Sachwalter). Read more.