Following the bankruptcy petition, Gerry Weber is negotiating with an investor about a possible acquisition of the subsidiary Hallhuber. Now many stores in Germany are closing.
Update from April 5: Gerry Weber is in bankruptcy proceedings. Now the company announced in a press release that they will close 120 stores in Germany. Of these, 450 jobs have been hit. The redundancies are part of the extensive refurbishment measures. Various media report on it.
Update from 26 February: Due to red numbers, the Esprit fashion group in Germany is wiping at least 400 jobs by the end of June. Store closures are also possible.
Gerry Weber: daughter Halhuber is likely to be sold
Halle – The insolvent fashion manufacturer Gerry Weber reflects on the sale of the subsidiary Hallhuber. A potential buyer for the purchase has apparently already been found.
With so-called bridge financing, Hallhuber's business operations should initially be guaranteed until further notice, Gerry Weber said on Thursday. At first, a company spokesperson did not want to give more details about the potential investor.
Gerry Weber: the financing must be completed by 2020
The parent company Gerry Weber International, with around 580 employees, filed a petition for insolvency proceedings in self-government with the Bielefeld court last month. The goal is to restructure the company.
Initially influenced by the bankruptcy application, only the parent company with the brands Typhoon and Samoon was initially. On Thursday, the company announced that a similar application had been made for subsidiary Gerry Weber Retail GmbH. No procedure has been initiated for Hallhuber. The business operations must be fully continued. The financing of the fashion provider is currently secured by the year 2020, the spokesperson. Already in October 2018, Gerry Weber had tried to redevelop and also replace the boss.
Gerry Weber is not the only fashion chain that is currently becoming weaker: K & L and AWG had previously filed for bankruptcy. Moreover, Tom Tailor will soon be sold to a Chinese group.