Fashion: Gerry Weber: Insolvency application also in Austria

The ailing fashion company Gerry Weber has also filed for bankruptcy in Austria.

Fashion: Gerry Weber: Insolvency application also in Austria

The ailing fashion company Gerry Weber has also filed for bankruptcy in Austria. As the Westphalian clothing manufacturer announced in Halle, bankruptcy proceedings will probably be opened within a few days against the Austrian subsidiary Gerry Weber GmbH based in Vienna.

In addition, the 19 Gerry Weber stores in the Alpine country are to be closed. This would eliminate around 75 full-time jobs, it said. In the future, the company wants to concentrate on its wholesale business in Austria as well as in Germany.

In Germany, Gerry Weber announced in June that it would close 122 of its 171 stores and outlets by the end of September as part of the restructuring efforts. In April, Gerry Weber International AG applied to the Essen district court for the initiation of restructuring proceedings in accordance with the law on the stabilization and restructuring framework for companies (StaRUG).

Insolvency proceedings were opened at the end of June against Gerry Weber Retail GmbH, in which the German branch business is bundled. Just over three years ago, Gerry Weber had to be saved from bankruptcy with the help of insolvency proceedings.

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