Rise Up Fashion GmbH (Oceansapart): Restructuring by transfer procedure successfully completed

Following a realignment of its business combined with a failure to secure financing, Rise Up Fashion GmbH was forced to file an insolvency application with the local court of Charlottenburg in July 2024. Established in 2017, the Berlin-based company manufactured and marketed active wear (sports and yoga clothing) under the Oceansapart brand, employing 129 people until the insolvency proceedings were commenced.

As part of the preliminary insolvency proceedings, BBL partner Dr Florian Linkert, greatly supported by his colleagues Dr Lena Verdenhalven and Charlotte Roderfeld, continued the entire business operations alongside introducing wide-ranging reorganisation measures. These included identifying potential areas for savings and the implementation of appropriate measures at all levels, including suppliers, but also a significant downsizing that resulted in a core team ultimately comprising 24 employees. Certain measures already introduced beforehand were also systematically pursued, such as the implementation of a new shop system and the partial inclusion of B2B activities.

The BBL team was assisted by PLUTA Management GmbH in the parallel process of identifying investors. During this phase, they conducted numerous discussions with potential investors from the private equity and strategic sectors. A buyer was subsequently identified – a subsidiary of the Mannheim-based Snocks GmbH, a socks and underwear label. The acquisition was completed with the commencement of insolvency proceedings on 1 November 2024.