Germany’s Bread & Butter to end insolvency proceedings

The troubled Berlin-based fashion trade show Bread & Butter has agreed to return its creditors at least 27% of its debt, informed the insolvency practitioner Christian Graf Brockdorff on Tuesday. The company filed for insolvency in December, 2014, after struggling for seasons to find interest from exhibitors and investors.

Bread & Butter, which earlier this year was acquired by Zalando, has a leasing contract with the former Berlin airport Tempelhof to host the trade show twice a year until 2019.

However, the January edition of the event was cancelled after the city of Berlin announced plans to house refugees in the venue. Zalando has announced plans to turn the trade show into a charity event instead.