TTL OP (TTL Süd) files for insolvency

According to media reports, German specialist retail chain TTL OP GmbH, based in Heidenheim, filed for insolvency on 15 February. "Ultimately, there is not enough liquidity to cover the liabilities, which I very much regret," Focus Online quoted the managing director as saying in a letter to staff. "With this step, the outstanding wages are also fully secured, as the employees are entitled to insolvency benefits for a period of three months, which also applies retroactively."

TTL OP, which until recently operated under the name TTL Süd, operates 27 interior design stores with around 400 employees in Baden-Württemberg, Bavaria and Rhineland-Palatinate. TTM Tapeten-Teppichboden-Markt (Suhl) and TTL Tapeten-Teppichbodenland Handelsgesellschaft (Hallstadt) are not affected by the insolvency. A press release from both companies states: "It is important for the management to emphasise that TTL Nord and TTM are on a sound economic footing. Apart from the identical names, there is no link between the group's activities and the spin-off. This therefore applies without restriction: The branches in Bavaria, Saxony, Saxony-Anhalt and Thuringia, together with their dedicated employees, are there for their customers now and in the future. This also applies to the Regensburg site, which was erroneously attributed to TTL OP in an earlier Focus Online report.

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