Höfner Saved from Bankruptcy: Thomann and GEWA Step In to Secure the Future of the Legendary Brand
June 25, 2026, 9 a.m.
One of Europe’s most iconic musical instrument manufacturers, Höfner, best known for producing the famous bass guitar associated with Paul McCartney, has reportedly been rescued from bankruptcy through the involvement of Thomann and GEWA music.
According to a press statement obtained by YouTube creator and music industry journalist KDH, a successful investment agreement has been reached that will allow the historic company to continue operating.
As many musicians will remember, news broke in December that Höfner had filed for bankruptcy. The company, internationally recognized for the Violin Bass model famously played by Paul McCartney, entered insolvency proceedings through the District Court of Fürth in Bavaria, Germany.
At the time, very little information was disclosed regarding the company’s financial difficulties. It was only confirmed that an insolvency administrator had been appointed and tasked with restructuring debts and exploring potential recovery solutions over a three-month period.
Following the announcement, Paul McCartney described the news as “very sad,” reflecting the strong connection between the legendary musician and the historic brand.
Recent developments, however, suggest a far more positive outcome.
Journalist KDH noticed that the contact information displayed on the official Höfner website had recently been updated and now pointed to Thomann. Curious about the change, he contacted the German retail giant for clarification.
According to KDH, the company responded with a document that appears to confirm the acquisition of the historic instrument manufacturer.
If the press release is authentic, it confirms the implementation of a successful investor-backed solution designed to ensure the future continuation of Höfner, including the preservation of its headquarters in Baiersdorf, Germany.
The statement explains:
“This transaction not only secures the long-term future of the internationally renowned Höfner and Paesold brands, but also safeguards the Baiersdorf location and preserves 24 jobs.”
The document further notes that before the insolvency proceedings, Höfner employed 52 people involved in the production and international distribution of string instruments, bows, guitars, and basses.
If the figures contained in the statement are accurate, the restructuring may have resulted in the loss of 28 positions.
According to the release, operational control of the Baiersdorf facility was assumed by GEWA music GmbH on April 1, 2026.
Meanwhile, Streetlife GmbH, a joint investment subsidiary established by Thomann and GEWA, acquired ownership of the Höfner and Paesold trademarks.
The statement emphasizes:
“This ensures the continued existence of both brands and supports their long-term strategic development.”
The agreement also specifies that Thomann GmbH will hold exclusive distribution rights for Höfner products throughout Europe, while GEWA music will manage distribution in all other international markets.
Distribution rights for Paesold products will remain with GEWA.
Importantly, the statement confirms that production of Höfner instruments—including the legendary Beatle Bass models, orchestral string instruments, and bows—will continue in Baiersdorf.
The document adds:
“As part of this transaction, 24 jobs have been preserved at the Baiersdorf facility. Furthermore, new employment opportunities were found for some of the remaining staff members. Overall, this represents a highly positive outcome, particularly in light of the difficult conditions currently affecting the musical instrument industry.”
Court-appointed insolvency administrator Dr. Hubert Ampferl also commented on the agreement:
“Through a complex and demanding process, we were able to achieve a solution that secures both the future of the Baiersdorf facility and the long-term viability of the Höfner and Paesold brands.”
He continued:
“The ability to maintain uninterrupted operations while simultaneously preserving jobs sends an important signal for both the local community and the wider region.”
The history of Höfner stretches back nearly 150 years.
The company was founded in 1887 by Karl Höfner in the town of Schönbach, which at that time was part of the Austro-Hungarian Empire. Today, the town is known as Luby and is located within the Czech Republic.
Over the following decades, the business expanded to become one of the region’s leading manufacturers of stringed instruments.
During World War II, production activities were significantly reduced as company facilities were redirected toward manufacturing supplies for the German military.
Following the war and the political changes that reshaped Europe, ethnic Germans were expelled from Czechoslovakia. As a result, Höfner relocated to West Germany and established a new factory in Bubenreuth in 1950.
Although the company has produced a vast range of musical instruments throughout its long history, it remains most closely associated with the Höfner 500/1 Violin Bass, the instrument made famous worldwide through the performances of Paul McCartney.
At the time of publication, Guitar.com had contacted Thomann in an effort to independently verify the authenticity of the press release supplied to KDH.
