The planned sale of Planet Sports to 21sportsgroup (SGI Europe n° 26-1+2 of Jan. 16) is off. In the course of the due diligence process, the latter stopped the transaction at the beginning of March. A few days later, the parent company of the German action sports retailer, Puccini Germany, reportedly filed for insolvency, indicating that it was looking for new investors for Planet Sports and other assets. Controlled by the Carlyle investment group, Puccini is the holding company that was set up at the end of 2010 to take over Planet Sports and other assets of the Primondo Specialty Group, a subsidiary of the Arcandor group that owned Karstadt at the time.

Topics