Düsseldorf shoe retailer Koch files for bankruptcy.

German shoe retailer Schuhparadies Michael Koch GmbH has filed for bankruptcy after 37 years of operation due to increasing costs. The company, founded by Michael Koch in 1987, had stores in Düsseldorf, including a Tamaris store on Flinger Strasse and a Rieker store on Nordstrasse. The court has appointed Jan-Philipp Hoos from the White & Case law firm as the provisional insolvency administrator. The employment contracts of the company's six workers have been terminated, but their salaries are secured by an insolvency allowance until April. The Rieker store will have a clearance sale until it closes at the end of April, while the Tamaris store will continue under the parent company Wortmann. [Extracted from the article]