“It is a pleasing development for a procedure that initially gave little hope of a rudimentary satisfactory result. The fashion industry is in a deep crisis, and numerous retail chains are facing similar difficulties. I am glad that we succeeded in achieving a partial reorganization for Reno.” This emerged from an interim statement by insolvency administrator of the Insotreu law firm, Dr. Immo Hamer von Valtier. Nationwide, 20 locations including the workforce will continue to operate, nine of them under the name “Reno”. The latter are located in eastern Germany and were taken over by the Kinast group of companies, which includes ABC Schuh-Center, K+K Schuh-Center, Schuhpark, Shoe4You and Claudio Schuhe, as well as the web store Kilagoo. “Reno is already firmly positioned in the market and has a high level of acceptance among customers,” Kienast company owner and CEO Peter-Phillip Kienast said in a release. “We therefore see very good opportunities for a positive development of the concept.” In addition, about 21 more locations were added outside the process, bringing the total expansion of the Kinast Group, which also celebrated its 70th anniversary this year, to about 30 stores.
