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The encyclopedia · Strategy & Leadership · Strategic decision · 2025

Schuh Graf's shoe-store model stopped paying its fixed costs

The 27-store Baden-Württemberg shoe chain filed for self-administration in June 2025 — inflation, online trade and falling footfall broke its store model

Schuh Graf · 2025-06

What happened

Schuh Graf GmbH & Co. KG is a third-generation family shoe retailer based in Fellbach near Stuttgart, trading under the sales formats Schuh-Mann and Quick Schuh. In 2025 it ran 27 stores, all of them in Baden-Württemberg, with about 160 employees selling shoes, bags and accessories. Its retail network was the engine of the business — a regional chain built on bricks and mortar.

On 3 June 2025 the Amtsgericht Stuttgart approved the company's application to open a preliminary insolvency proceeding under self-administration (Eigenverwaltung), keeping management in charge while a restructuring adviser steers the process. On 16 September 2025 the court opened the formal proceeding. Management named the causes: a weak consumer economy, high inflation, growing online trade, generally declining customer footfall and high fixed costs.

The aim was to keep every store open and secure the chain's future. Salaries were guaranteed for three months through the German Insolvency Money (Insolvenzgeld). As the restructuring progressed, the first stores began to close — the Schuh-Mann branches in Altensteig and Esslingen were shut and their staff redeployed — while the rest of the network was reviewed store by store for viability.

Why it happened

  • High inflation and a weak consumer economy cut the discretionary spending that a shoe chain depends on
  • Growing online trade pulled footwear shoppers away from physical stores, and e-commerce players competed on price
  • Declining customer footfall hit all 27 locations at once, while rent, energy and wages stayed fixed
  • A regional bricks-and-mortar model had no online channel strong enough to absorb what the stores lost
What it costinsolvency filed; first stores closed, all 27 under reviewcostly

The lesson

A store network is only as sound as the footfall that pays for it — when inflation and online trade drain the walk-in customer, a chain of fixed-cost shops has no cushion to fall back on

Aftermath

Schuh Graf entered preliminary self-administration on 3 June 2025 and the Amtsgericht Stuttgart opened the formal Eigenverwaltungsverfahren on 16 September 2025, with PLUTA's Steffen Beck supporting management and Dr. Tibor Daniel Braun as trustee. All 27 stores initially stayed open and salaries were secured for three months via German insolvency money. As restructuring proceeded, the Schuh-Mann branches in Altensteig and Esslingen closed with staff redeployed, and each remaining store was reviewed for viability.

Sources

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