Beate Uhse, one of the highest profile names in the European adult sector, has reportedly filed for protection from its creditors after failing to secure financing from a group of investors. According to Reuters, the insolvency does not apply to its subsidiaries, so the eponymous chain of stores will continue trading during the restructuring process.
“We are taking a path that we are confident will allow us to restructure the group as a whole,” said chief executive Michael Specht.
Earlier this year the company sold off its Dutch subsidiaries, Scala Playhouse and the Christine le Duc retail stores, in two separate deals, and the company will continue talks with its creditors and potential new investors.
The company was formed in 1946 by a former female pilot and it currently employs around 345 employees in seven countries.
