From and past: the Insolvent Fashion manufacturer Gerry Weber closes all its stores. The German brand is taken over by the Spanish fashion company Victrix. The provisional creditor committee has approved this. Only the name remains.
The traditional German brand is now in the third bankruptcy procedure. The company had already completed in 2019, again four years later in 2023. Only the Retail daughter Gerry Weber Retail and the Austrian subsidiary went bankrupt. The creditors abandoned their demands. New loans were provided.
The fashion manufacturer wanted to concentrate on the wholesaler and close a large part of their own stores. At that time it was said that 19 locations in Austria should be closed and 75 jobs are lost.
No new investor
It has now been decided that the fashion manufacturer closes to fashion and closes all things. There is no new investor.
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.
