Strauss Innovation (1)

Closure of non-performing stores within protective shield proceeding



Transaction background


  • Sun European Partners wanted to restructure and sell its portfolio company Strauss Innovation within a protective shield proceeding.
  • Out of approximately 100 stores, 17 loss-making stores were closed in order to improve the financial results of the company and to successfully sell the company.
  • GA Europe was selected out of a competitive tender process to close the 17 non-performing stores by providing a minimum guarantee on the returns.



Operational details


  • Due to the geographical spread around Germany, a 10-person Germany-based consulting team was deployed.
  • GA Europe's retail operational expertise had an immediate and significant impact upon the chain's trading performance, increasing like-for-like sales by up to 200%.
  • GA Europe customized the trade out to adhere to Strauss Innovation's needs.
  • NOS products were transferred out of the closure stores to the going concern stores, while slow-moving articles from going concern stores were transferred into the closure stores.
  • This required intensive re-labelling and logistical organisation. GA Europe used and trained temp workers to handle with personnel fluctuations.
  • Store closures were phased over a trading period of 3 months.





  • All stores were closed on time free of any merchandise and handed over broom clean.
  • Due to a sensitive and subtle approach by GA Europe, there were no negative claims from employees.
  • Trading results and sales from fixtures and fittings surpassed initial goals.
  • Strauss Innovation commented on the excellent practice of working with the GA Europe team from store level to head office and senior management, and recommended that any future store closures be done with GA.
  • The restructured business has been sold successfully to a strategic investor.