The German fashion retailer Peek & Cloppenburg Düsseldorf can take over the insolvent textile chain. According to the Federal Cartel Office, Sinn still operates 35 locations in Germany, most in North Rhine-Westfalen. Some branches are already closed or will be locked soon.
“Peek & Cloppenburg has a leading position in the field of intramural textile stores,” said Andreas Mundt of the Federal Cartell Office. By taking over, the company can further expand its market share in some cities.
The believers are expected to decide whether this will actually happen in March. Then vote for the bankruptcy plan and a possible sale to Peek & Cloppenburg. The current partner Isabella Göbel would like to continue the textile chain. In August 2024, the fashion company submitted an application for bankruptcy. Since then, business activities have continued in most branches.
P&C Düsseldorf operates around 70 locations in Germany and completed only a renovation process in the fall 2023. The fashion store also owns the chain. However, Peek & Cloppenburg Hamburg is another company.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
