Gerry Weber closes all stores in Germany due to bankruptcy
Kyiv • UNN
German clothing brand Gerry Weber is closing around 40 stores in Germany due to bankruptcy. The brand is being taken over by the Spanish company Victrix, which is planning a restart, and 8 stores will also open in the Netherlands.
The German clothing manufacturer Gerry Weber, which also operates in many countries, is experiencing financial difficulties. The company from East Westphalia is closing all its stores in Germany. But there is also talk of reorganization, with openings in the Netherlands and Spain.
Reports UNN with reference to Tagesschau.
Details
Gerry Weber is closing all of its approximately 40 stores in Germany due to bankruptcy. At the same time, the media reports that the brand is being taken over by a Spanish company that plans to restart under its own structures.
The Spanish fashion company Victrix is taking over the German brand. The temporary committee of creditors has given its consent.
In addition, Gerry Weber is restarting in the Netherlands - 8 stores are to reopen.
Reference
Last month, the Amsterdam court declared Gerry Weber bankrupt. At that time, the chain still had 38 branches in the Netherlands.
According to a statement released on Thursday, the new Spanish owner sees a future in the Gerry Weber brand.
In addition to the brand rights, they also acquired a number of designers who are responsible for Gerry Weber clothing. This year's spring-summer collection will also soon be available again in the aforementioned stores
Let us remind you
UNN previously reported that the fashion brand Forever 21 has filed for bankruptcy for the second time in six years. The reason is the decrease in visitors to shopping centers and the increase in competition from online stores.