After Restructuring, Beate Uhse Becomes 'Be You'

After Restructuring, Beate Uhse Becomes 'Be You'

FLENSBURG, Germany — An investment firm that infused European adult retail chain Beate Uhse AG with funding in January to help stave off shutting down has emerged as its new operator.  

Beate Uhse, which filed for insolvency (equivalent to Chapter 11 in the U.S.) last year, now has plans to restructure and rebrand, according to WirtschaftsWoche.

According to the insolvency plan, viable parts of the company will be transferred to a new company. That company will be called “Be You.”

Beate Uhse creditors, including those who invested in a €30 million bond issued in July 2014, are likely to lose most of their money.  

“If all goes to plan, then Robus Capital will take over the recoverable elements of the company at the beginning of May,” Beate Uhse’s bankruptcy attorney Georg Bernsau told WirtschaftsWoche.

The company, which sells lingerie, sex toys and DVDs in Germany and The Netherlands, plans on keeping its marketing division in Germany and attempt to increase sales efforts through third-party online sites.

The adult retailer was founded in 1946 by former Luftwaffe Pilot Beate Rotermund-Uhse who opened the world’s first sex shop in Flensburg in 1962.

Revenue has been on a long slide for more than a decade for the Flensburg, Germany-based company, which grew to 300 stores with sales peaking at €285 million in 2005.

Ten years later, in 2015, Beate Uhse, found revenue totaling less than half that figure at €129 million.

Pictured: Beate Uhse CEO Michael Specht  

Related:  

Copyright © 2024 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Pipedream Expands 'Anal Fantasy Elite' Collection

Pipedream Products has expanded its Anal Fantasy Elite collection with two new stimulators.

Orion Expands 'Couples Choice' Line With New '2 in 1' Vibe

Orion Wholesale has added the 2 in 1 Vibrator + Butt Plug to its Couples Choice collection of pleasure products.

Lovense Unveils 'Mission 2' Long Distance Vibe

Lovense has introduced the new Mission 2 vibrating suction cup dildo to its long-distance collection.

Male Power Debuts 'Pack & Play' Collection

Male Power has introduced its new Pack & Play collection of men's underwear.

Orion Debuts New Styles From Cottelli Lingerie

Orion Wholesale is now shipping new styles from its Cottelli Curves plus-size lingerie line.

Sportsheets Unveils Rebranded 'Edge' Line, 9 New Products

Sportsheets has debuted its reimagined Edge line featuring nine new products.

Our Erotic Journey's James Guo Profiled on Wired.com

James Guo, founder of pleasure brand Our Erotic Journey (OEJ), is profiled in a new feature on Wired.com titled "The Toymaker Who Wants to Be the Next Willy Wonka of Sex Tech."

Williams Trading Unveils 'Christmas Giftables' Catalog

Williams Trading Co. has released this year's edition of its "Christmas Giftables" digital catalog.

Magic Silk Debuts 'Leather + Lace' Collection

Magic Silk has introduced its new Leather + Lace lingerie collection.

Fleshy to Launch Interactive Cam Site 'Eromote'

Male pleasure brand Fleshy has announced that it will launch an interactive, bidirectional cam site next month called Eromote.

Show More