An Etymological Dictionary of the German Language/Schranz
Schranz, m., ‘flatterer, parasite; slit, cleft,’ from MidHG. schranz, m., ‘breach, rift, cleft, hole, wound, slashed garment, an overdressed young man (with slashed sleeves, &c.), fop’; with the last of these varied meanings ModHG. Hofschranze, ‘flattering courtier,’ is connected. On the other hand, the prim. meaning ‘rift’ points to a connection with Schrunde, so that two roots skrant and skrand, have to be assumed in Teut.