German home improvement chain Hammer declares insolvency

Hammer, a major German home improvement store chain, has filed for insolvency due to the economic crisis, impacting its 3,900 employees. The company, part of the Brüder Schlau Group, operates 180 Hammer stores. The insolvency filing, an "in-house administration," allows Hammer to continue operations and fulfill orders, with all stores remaining open. Employee wages are secured through August 2025. The management will be supported by a general representative and a trustee. The company's first stores opened in 1976. The insolvency comes amid a rise in business bankruptcies in Germany, with the home improvement market already considered competitive, including major players like Bauhaus, Hornbach, and Obi.