DGAP-News: Adler Modemärkte AG / Key word(s): Insolvency 
Adler Modemärkte AG: ADLER submits insolvency plan and plans to conclude proceedings by the end of August 2021 
2021-07-02 / 10:05 
The issuer is solely responsible for the content of this announcement. 
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Press Release from Adler Modemärkte AG 
Opening of insolvency proceedings 
ADLER submits insolvency plan and plans to conclude proceedings by the end of August 2021 
Company accepts investor offer from Zeitfracht 
Haibach (near Aschaffenburg), 2 July 2021 - With the filing of the insolvency plan at the Aschaffenburg local court, 
the decisive phase in the restructuring of Adler Modemärkte AG has begun. The insolvency plan defines all  financial 
measures for restructuring the company based on the concept submitted by the investor Zeitfracht Logistik Holding GmbH, 
Berlin. The company had previously accepted Zeitfracht's offer to conclude an investor agreement after the creditors' 
committee had expressed its support. On 1 July 2021 the Aschaffenburg Local Court opened insolvency proceedings in 
self-administration over the assets of Adler Modemärkte AG as planned. The company had previously filed for insolvency 
on 11 January 2021 due to the distortions in the wake of the Corona Lockdown. The execution of the investor agreement 
with Zeitfracht Logistik Holding GmbH is currently still subject to merger control approvals. 
The insolvency plan provides for the debt relief of the company and the continuation of the operative business with 
more than 100 German and 29 foreign fashion stores (Austria 24, Luxembourg 3, Switzerland 2). The planned realignment 
is expected to preserve at least 2,600 of the Group's total of 3,100 jobs. 
In addition, the insolvency plan includes a capital cut in the form of a reduction of Adler Modemärkte AG's share 
capital to zero and a subsequent injection of new equity in the form of a capital increase by the investor Zeitfracht, 
who will thereby become Adler's sole shareholder. Thus, the existing shares of the Company will in all likelihood 
become entirely worthless. When the capital reduction to zero takes effect, the Company's shares will be delisted at 
the same time. 
The now upcoming realignment of ADLER will be implemented by the existing Executive Board of Adler Modemärkte AG under 
the leadership of CEO Thomas Freude. The insolvency plan is supposed to be presented to the creditors' meeting to be 
put to vote by the end of July 2021. Ideally, the company will be able to terminate the insolvency proceedings as early 
as the end of August 2021. From today's perspective, the payment of a recognisable quota on the claims of the 
insolvency creditors is possible. 
"I am relieved that ADLER has good prospects for the future thanks to the investor agreement with Zeitfracht. The steps 
we have taken include a sustainable repositioning of the company," comments Thomas Freude, the company's CEO. 
Attorney Dr Christian Gerloff, General Representative of Adler Modemärkte AG, adds: "The planned solution for the 
future was only possible thanks to the good cooperation between the management, the trustees, the creditors and the 
employees. Thanks are also due to the Economic Stabilisation Fund (Wirtschaftsstabilisierungsfond), which made a 
decisive contribution to bridging the very difficult last weeks of the lockdown with its loan in May." 
Trustee Tobias Wahl (Anchor Rechtsanwaltsgesellschaft): "The implementation of the investor agreement with Zeitfracht 
would result in a substantial part of the jobs at ADLER being preserved. In view of the extremely difficult underlying 
conditions under which this process had to take place due to Covid-19 this is nothing to be taken for granted." 
Positive customer response after reopening of all fashion shops 
The reopening of all of ADLER's fashion shops after the end of the lockdown has been met with a positive response from 
ADLER's customers and high demand for the company's products. This demand is now to be supported by intensified 
marketing measures, which were scaled back considerably in the wake of the corona crisis. 
Adler Modemärkte AG press enquiries and investor relations: 
Peter Dietz 
Media und Investor Relations 
Tel.: 069 - 97 12 47-33 
Jasmin Dentz 
Media und Investor Relations 
Tel.: 069 - 97 12 47-31 
E-mail: investorrelations@adler.de 
About Adler Modemärkte AG: 
Adler Modemärkte AG, headquartered in Haibach near Aschaffenburg, Germany, is one of Germany's largest and most 
important textile retailers. In 2019, the Group generated revenue of EUR495.4 million and EBITDA of EUR70.3 million. ADLER 
employs a workforce of around 3,100 and operates 172 stores, 142 of which are located in Germany, 24 in Austria, three 
in Luxembourg, two in Switzerland, plus an online shop. The Company focuses on large-space concepts offering in excess 
of 1,400 m2 of retail space. With its many own brands and select external brands, ADLER offers a highly diverse product 
range. Thanks to more than 70 years of tradition and strong customer loyalty, ADLER considers itself to be the market 
leader within its target group of affluent customers aged 50 and over. 
For more information: www.adlermode-unternehmen.com; www.adlermode.com 
 
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2021-07-02 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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Language:     English 
Company:      Adler Modemärkte AG 
              Industriestraße Ost 1-7 
              63808 Haibach 
              Germany 
Phone:        +49 (0) 6021 633 0 
Fax:          +49 (0) 6021 633 1299 
E-mail:       info@adler.de 
Internet:     www.adlermode.com 
ISIN:         DE000A1H8MU2 
WKN:          A1H8MU 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1214827 
 
End of News   DGAP News Service 
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1214827 2021-07-02


 
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July 02, 2021 04:07 ET (08:07 GMT)