All SSU articles
-
News briefsTennis-Point finds new owner
According to SGI USA, Fromuth Racquet Sports, a Pennsylvania-based racquet sports wholesaler and retailer, has reached an agreement to acquire e-tailer Tennis-Point on undisclosed terms to expand into the tennis e-commerce space. Tennis-Point will initially operate as an independent company and will retain the same name and contact details. All ...
-
ArticleTennis-Point Spain seeks new CEO
Tennis-Point Spain and its CEO, Miquel Just, agreed on Feb. 29 to sever the contract they signed exactly four years earlier, according to CMDsport. It was Just who urged Tennis-Point’s entry into Spain, with a first store in Mataró. Five more stores followed, in Barcelona, Valencia, Madrid, Alcorcón and Alfafar ...
-
ArticleSigna insolvency proceedings: €5bn in liabilities
The restructuring proceedings with self-administration for Signa Holding GmbH were opened at the Commercial Court in Vienna on the evening of Nov. 29, 2023. According to the AKV creditor protection association, 42 service providers and 273 creditors are affected. According to the application, the debtor has assets with a book ...
-
ArticleSSU: Business as usual for Tennis-Point and Internetstores – and what else?
In a joint statement, the two insolvency administrators appointed, Dr. Christian Gerloff from the Munich law firm Gerloff-Liebler Rechtsanwälte and Stefan Meyer from Ulm-based Pluta Rechtsanwalts GmbH, point out that the operational business of the two insolvent Signa Sports United (SSU) spin-offs Tennis-Point GmbH and Internetstores GmbH (alias Internetstores Group, ...
-
News briefsSigna Holding also facing challenges
The slowdown in the real estate market is hitting René Benko’s Signa Holding severely, according to an article in the Austrian magazine News. Signa Holding is an investment holding company operating in the real estate, retail (Galeria Kaufhof, Signa Sports United (SSU), KaDeWe) and media (minority stake in Austrian newspapers ...
-
News briefsSigna Sports United files for insolvency
Sports e-commerce company Signa Sports United (SSU), controlled by Austrian investor René Benko’s Signa Holding, has filed for insolvency. The Bielefeld District Court, where the application was filed, appointed Munich-based lawyer Christian Gerloff as insolvency administrator. The German business newspaper Handelsblatt was the first to report the insolvency filing, which ...
-
News briefsNext SSU sub files for insolvency
Stuttgart-based Internetstores GmbH, which includes the bike and outdoor online shops Fahrrad.de, Bikester, Campz and Addnature, filed for insolvency at the Stuttgart District Court on Monday afternoon. The company is part of Signa Sports United (SSU), the sporting goods division of the Signa Group founded by Austrian investor René Benko. ...
-
News briefsSSU: Tennis-Point insolvency will be followed by further insolvencies
According to information released after the insolvency of Tennis-Point GmbH, the parent company Signa Sports United (SSU) is preparing to open further insolvency proceedings in the coming days. Further insolvency applications for other legal entities of the SSU Group, “including Signa Sports United N.V.,” are in preparation, the company stated. ...
-
ArticleFirst SSU subsidiary files for insolvency
Rumors are swirling: While Signa Sports United (SSU) offshoot Internetstores GmbH (Addnature, Bikester, Brügelmann, Campz, Fahrrad.de, Probikeshop) is said to have informed its suppliers of impending insolvency in self-administration and British affiliate WiggleCRC is believed to have done the same in its home country, German Tennis-Point GmbH has already filed ...
-
News briefsLargest SSU shareholder terminates unconditional equity commitment
Shortly after deciding to delist from the NYSE, Signa Sports United (SSU) announced that it had received a termination notice regarding the unconditional equity commitment letter from Signa Holding GmbH, a privately held Austrian real estate and retail company and a subsidiary of the company’s largest shareholder, Munich-based Signa International ...
-
ArticleGerman retail chain SportScheck to be acquired by Frasers
Frasers Group announced that it has reached a binding agreement with Signa Retail Department Store Holding GmbH to acquire German sports retailer SportScheck. Signa had once acquired SportScheck from the Otto Group. The most recent news surrounding Signa already suggested that some of its brands might be divested from the ...
-
ArticleSigna Sports to delist from NYSE, new CEO in Q1/2024
After assuming in June that the worst of the market disruptions were over, Signa Sports United N.V. (SSU), the Berlin-based sports e-commerce specialist, has now announced an acceleration of its strategic realignment and performance improvement program. Ahead of putting its Q3 numbers on the table, the company is talking ...
-
News briefsSSU adds former Accell Group CEO to board of directors
Signa Sports United N.V. (SSU), an NYSE-listed sports e-commerce company with businesses in cycling, tennis, outdoor and team sports, announced the appointment of Anthonie Anbeek to its board of directors, effective April 1, 2024. Anbeek, an experienced consumer products and cycling executive who most recently served as CEO of bicycle ...
-
ArticleSSU lands €150 million in funding, says worst of market disruptions are over
Signa Sports United (SSU), while bracing for less-than-stellar FY23 results impacted by macroeconomic headwinds and high industry inventory levels, is taking steps to generate €100 million in Ebitda savings by FY25 and less operational complexity in FY24 that will return it to profitable, long-term growth. Meanwhile, the Germany-based e-commerce company, ...
-
ArticleTennis-Point and Tennis Channel launch online merchandise site during Roland Garros
California-based Tennis Channel and racquet and sporting goods retailer Tennis-Point, a subsidiary of Signa Sports United (SSU), have entered into a multi-year e-commerce agreement to offer tennis fans high-quality tennis apparel, equipment and accessories. The partnership includes the launch of a white-label tennis and pickleball store at www.tennis.com and a ...
-
News briefsSSU eyes return to profitability in FY24
The sports e-commerce company Signa Sports United (SSU) is undergoing a strategic realignment assessment to generate long-term shareholder value that it intends to reveal at the end of Q2 but is projecting an ongoing challenging environment through the remainder of the FY due to inflationary pressures impacting both consumer sentiment ...
-
News briefsTennis-Point hires Stefan Salzer as managing director
The German tennis and running equipment retailer Tennis-Point has hired Stefan Salzer as its new managing director. He will be working alongside company founder Christian Miele to lead the European growth of the company in existing markets and new business lines, focusing on strengthening stability and scalability in the company’s ...
-
ArticleSSU outlines U.S. growth strategy
Signa Sports United (SSU) aims to strengthen its position in e-bikes and tennis in its core European market while implementing a similar approach in the U.S. through a combination of organic growth, mergers and acquisitions and third-party services, according to a presentation (direct PDF download) at the Jefferies Investor Conference ...
-
ArticleSigna Sports United Q2 sales bolstered by acquisitions
Signa Sports United (SSU), battling worsening consumer sentiment in Europe and persistent bike/e-bike shortages as headwinds, expanded second-quarter revenues by 47.5 percent to €269.0 million from €182.0 million. The increases were aided by including results from its recent WiggleCRC and Tennis Express acquisitions (closed on Dec. 14 and Dec. ...
-
News briefsTennis-Point is the new sponsor of ITA’s Collegiate Tennis Rankings
Tennis-Point is the new official sponsor of the ITA Collegiate Tennis Rankings. As the governing body of college tennis in the U.S., the Intercollegiate Tennis Association (ITA) administers regional and national rankings for all five divisions of college tennis (NCAA Division I, Division II, Division III, NAIA and NJCAA), including ...
