The Studioline Group, a long-standing photo studio chain with over 80 branches in Germany, has filed for bankruptcy, with business operations continuing and employee wages secured until the end of September.
The Studioline Group, which operates around 80 portrait photography studios in Germany, has filed for bankruptcy. This development was reported by the insolvency portal “Indat.” The main companies, Studioline Photostudios GmbH and My Photo Studio GmbH, along with 75 subsidiaries, have filed for insolvency at the Kiel District Court. The court has approved the appointment of lawyer Reinhold Schmid-Sperber as the provisional insolvency administrator.
Despite the financial difficulties, business operations will continue, and the wages of the 500 employees are secured through insolvency payments until the end of September. New trainees started their apprenticeships as planned on August 1.
The company’s crisis is attributed to several factors, including reduced consumer spending due to inflation, decreased foot traffic in shopping centers, and increased costs from higher index rents. Additional burdens arose from planned new openings.
Schmid-Sperber remains optimistic and sees good chances for restructuring the company. Many photo studios are profitable, and there are approaches to improve results. The goal is to create a long-term perspective for the traditional company and its employees.
Studioline has evolved over generations. Carl Prien founded the first branch in Kiel in 1910. In 2003, the company refocused on photo services, and in 2013, it acquired the largest market participant, Probild-Studio/Mein Fotostudio Group.
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