Yeah! AG of Germany, operator of 43 McTrek outdoor stores and an online shop, filed for insolvency at the district court of Hanau, Germany, on April 1. The company employs 420 people. Yeah! AG was founded by Peter Dausien, founder also of the German outdoor brand Jack Wolfskin, and has been majority-owned by the Belgian A.S. Adventure Group since 2017. The insolvency court has appointed the Frankfurt lawyer and restructuring expert Thomas Rittmeister.
Because of the corona crisis, all McTrek stores are currently closed. The online shop has been temporarily suspended but is to be reopened as soon as possible. “During the current Covid-19 crisis, it is hardly possible to make any valid long-term forecast. Now it is particularly important to get online trading up and running again in order to achieve the expected catch-up effects after the corona situation has improved,” said Rittmeister. It is unclear at this early stage whether this will succeed.
Until further notice, employee wages are being drawn from insolvency funds from the German Federal Employment Agency. The specialist for functional clothing and outdoor sports carries around 10,000 products from 250 manufacturers.