The large mail order company Tennis-Point has filed for bankruptcy.
von tennisnet.com
last edited: October 20, 2023, 6:51 p.m
This is reported by several media outlets, especially the Business Week. Accordingly, Tennis-Point has filed for bankruptcy – this can also be viewed publicly.
Tennis-Point belongs to the Signa Group and is considered the largest mail order company for tennis rackets and other tennis equipment in Europe. In the USA there was also a recent attempt to attack the major competitor Tennis-Warehouse.
Tennis-Point was founded by Christian Miele. In 2016, Signa, the company owned by the Austrian entrepreneur René Benko, took over the majority and bundled it with companies such as Fahrrad.de, Campz and Outfitter under Signa Sports United (SSU).
Tennis-Point also opened stores locally, including in Hamburg and in branches of Karstadt Sports, which also belongs to Signa. However, the main business was and is the online mail order business, in which many other competitors were pushed out or bought up and global brands wanted to be sold exclusively. And unpacked practices towards retailers that were not without controversy.
Tennis-Point is also one of the major partners of the ATP at many tournaments, as well as one of the DTB.
Tennis-Point: Signa in crisis
Sea ViewView The SSU has issued a “declaration of loss assumption” for Tennis-Point; however, the SSU itself is in a crisis. The SSU share price has also collapsed completely since the IPO in 2021, and a “delisting” is scheduled to take place in New York on October 23rd go.
On Monday, the major shareholder, René Benko’s Austrian Signa Group, cut a central financing commitment of 150 million euros, it is said.
Tennis-Point: No more returns already
Christian Gerloff, a restructuring expert specializing in the retail trade sector, was appointed as provisional insolvency administrator for the settlement.
All tennis fans should also be careful: Tennis-Point, like the acquired online providers CenterCourt.de, Tennis Peters and Co., no longer offers any return or return processing.
2023-10-20 16:16:00
#Mail #order #company #TennisPoint #insolvent #tennisnet.com
