Gerry Weber closes all stores: a sad chapter for fashion!
Gerry Weber closes all stores: a sad chapter for fashion!
Deutschland - The German fashion manufacturer gerry Weber today announced that he will close all of his business. This decision follows for years of sales declines, which already led to an bankruptcy application in 2019. Despite various renovation attempts and an emergency takeover by an investor, the company was unable to reach a turning point. A massive job cuts are expected for the employees because the group is completely withdrawn from stationary trade.
In the meantime, the Spanish fashion company Victrix took over the takeover of the Gerry Weber brand. The preliminary creditor committee has already approved the takeover deal. The brand will continue under a new leadership, with a focus on wholesale or online trading.challenges in the German fashion market
The closures by Gerry Weber are part of a wider trend in the German fashion market. According to Fashion United have increased by almost 25% compared to the previous year, which indicates the difficulties with which Many companies are faced in the second half of 2024.
These developments are also evident in other companies in the industry. For example, Esprit has closed all 56 branches in Germany by the end of November, which cost 1,300 employees: inside. In addition, the follow -up company Schuhquadrat had to file for bankruptcy in September. International sizes such as Scotch & Soda and sense are also affected by bankruptcy proceedings, which further increases uncertainty on the market.
The takeover of Gerry Weber by Victrix could be seen as a strategic attempt to revitalize the brand in a new form. Nevertheless, it remains to be seen how the announced changes will affect employees and the market, in particular against the background of the current challenges for the fashion industry.
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