Crisis at the fashion retailer Peek & Cloppenburg: They want to restructure, but probably not close any branches. Bild: dpa
Düsseldorf company has to restructure itself – but none of the 67 shops should be closed for the time being.
The fashion retailer Peek & Cloppenburg KG Düsseldorf (P&C) filed an application for a protective shield procedure on Friday in order to rehabilitate the ailing business. However, all 67 fashion houses remained open, the company said, according to current planning, there are no plans to close any houses. Subsidiaries such as Anson’s fashion houses are also not affected. The 6,800 employees will receive insolvency money for March, April and May.
Nevertheless, the ailing fashion retailer wants to cut jobs, especially in administration. The group wants to avoid redundancies as far as possible. In addition to debt relief, the protective shield procedure is primarily used to negotiate new contracts with suppliers and landlords as well as other creditors. The fashion company had accumulated high losses in recent years, first due to the corona pandemic and then also due to a reduced mood to buy in the face of inflation and the Ukraine war. “The effects hit us hard and caused a three-digit million loss,” said Steffen Schüller, who has been the company’s managing director since June 2022. According to the current consolidated financial statements published in the Federal Gazette, P&C posted an operating loss of EUR 49.5 million in 2020, and another EUR 7.5 million in 2021.
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Which: joja.