Business operations will continue as the 94-year-old German beauty retailer undergoes restructuring.WHO: Founded in 1931 by Anna Pieper and her son Gerhard as a small soap shop in Bochum, Parfümerie Pieper operates an e-commerce shop and physical stores across Germany. Dr. Oliver Pieper and Torsten Pieper are part of the management team and are leading the family business in its fourth generation. The retailer has more than 120 locations with a wide range of top international brands, including Chanel, Estée Lauder, and Lancôme.WHY: “The self-administered restructuring gives us the opportunity to stabilize our company and develop it strategically while maintaining full operational control,” says Managing Director Oliver Pieper.DETAILS:In a letter to suppliers, the company stated that it entered into self-administration on November 20 after filing for insolvency at the Bochum Local Court in Bochum, Germany.The district court has appointed attorney Sarah Wolf from the law firm Anchor as provisional administrator to oversee the proceedings. The retailer will keep its 140 stores and online shop open for nowSalaries are secured for three months through insolvency benefits.Management will remain in place, and vendors will need to register outstanding claims after insolvency proceedings begin, which the company estimates to be on February 1, 2026.Payments for orders placed after the commencement of self-administration will be covered by the insolvency estate.The process will determine the future of its stores with the goal of securing the company's viability and preserving jobs.