German shoe producer Helix declares insolvency
Despite a positive order situation Helix Schuhfabrik GmbH in Selbitz, well-known for the production of comfortable footwear, declared insolvency on November 9. In a press release Helix blames shrinking German market, poor sales and cash-flow problems for the move.
According to chief executive Dieter Rührschneck the step was an unwanted but necessary option, especially in view of the company’s trade partners who had faithfully cooperated with Helix for decades.
In 1997 Helix moved its production to
Presently a recipient company is set up to meet the delivery dates of the existing orders and maintain the “Helix” product.
