Cairo AG has taken over the Ikarus brand and online shop after the design retailer filed for insolvency.
The brand Ikarus was acquired by Cairo AG | Photos: Screenshots from Cairo.de
Ikarus Design Handel GmbH, based in Gelnhausen, Hessen, filed for insolvency at the beginning of the year.
When the insolvency proceedings were opened on 1 April 2024, the insolvency administrator did not receive any viable offers for the continuation of the business and therefore, on the recommendation of the provisional creditors’ committee, it was decided to close the company.
The closure of the company took place after the completion of the sale of the inventory on the 4th of June 2024.
According to reports, there will now be a fresh start to some extent: The Cairo AG, which also focuses on high-quality designer furniture and accessories, has acquired the Ikarus brand as well as the related domains from the Ikarus insolvency administrator. However, the acquisition of the brand does not constitute a legal succession for the insolvent company Ikarus Design Handel GmbH. (The Cairo AG, established in 1995, emerged from the creative interior designers (CI) group, known for its owner-operated furniture stores in Germany and the German-speaking countries.)
The online shop “ikarus.de” is now accessible again under the title “Restart: Ikarus powered by Cairo.” Additionally, a printed Ikarus design catalog is planned for the fall. The continuation of the brand and the trading platform is made possible by the fact that both companies have significant overlaps in their product ranges, with Cairo having been more focused on commercial customers until now. Gero Furchheim, spokesperson for the Cairo AG board of directors, is quoted as saying, “With the new Ikarus online shop, existing customers are offered an inspiring and reliable new range.” Customers who have subscribed to the Ikarus newsletter have been informed about the change in ownership of the brand. In the future, they will only receive regular information about new products if they subscribe to the new “Ikarus powered by Cairo” newsletter. The company is offering a switching bonus in the form of a shopping voucher for this purpose. Disappointed Ikarus customers who lost deposits to the company due to insolvency are intended to be won back with a goodwill offer.
