Adler: The latest victim of the corona crisis in the textile trade is the traditional fashion chain Adler. Due to over-indebtedness, the company filed for bankruptcy for its 142 businesses in Germany.
The goal is now to promote the processing of the insolvency in personal responsibility. As a rule, a savings program is launched that also means branch closings. According to a statement, attorney Tobias Wahl has been appointed as the preliminary trustee by the bankruptcy law firm Anchor.
The popular shoe retailer closed 13 branches of its well-known brands Dielmann, Dstep and Sommerkind in December. 84 employees were laid off.
Douglas: Germany’s largest perfumery chain wants to close almost every seventh branch in Germany. Around 60 of the 430 branches are to be closed and almost 600 employees will lose their jobs. Particularly explosive: some branches that were closed in mid-December due to the lockdown could not even reopen.
Escada: From also for the luxury chain Escada! Seven of the eight own Escada stores in Germany will be closed at the end of February 2021. Parts of the parent company Escada SE had slipped into bankruptcy in the previous year. A good 100 of the 180 employees to date will be laid off. Only in Munich should customers still be able to shop at Escada.
Esprit: A good ten months ago, the German subsidiary of the fashion group Esprit initiated protective shield proceedings.
The aim was to excuse Esprit. For this, the group implemented a violent restructuring program. Almost half of the branches are to be closed, employees laid off and costs reduced.
The troubled decoration giant Flying Tiger was sold to investor EQT at the beginning of the week.
The new owner announced that he wanted to streamline the branch network worldwide. In Germany the company operates around 43 branches (as of 2020).
Galeria Karstadt Kaufhof: Department stores like Galeria Kaufhof Karstadt were once considered a crowd puller. But the situation changed. Customers now look at the goods on site, but then buy them in cheaper online shops.
Corona also added to the Galeria Karstadt Kaufhof group. A redevelopment concept followed that was based on branch closings. 40 houses should close and 4,000 jobs should be cut. After sales had stabilized in the autumn, the group has now applied for state aid for its 131 department stores. It is particularly bitter that online trading is still a weak point of the group and that there is no boost in sales.
H&M: Textile giant Hennes & Mauritz also wants to optimize its branch network. 250 branches are to close worldwide. How many of these are in Germany is unclear. However, the unions had confirmed that talks were already being held in this country about severance programs. According to media reports, there are 800 employees who would be affected.
The French fashion discounter also fled under protective shield proceedings last year. As part of the restructuring, the German operating company announced that it would close half of the approximately 75 stores in Germany. Terminations are therefore issued for 150 employees.
The British fashion retailer started an expansion offensive in 2018 and has since been represented in Germany’s important shopping malls. But the parent company Arcadia slipped into bankruptcy due to Corona last year.
The brand was swallowed a few days ago by the British online retailer Asos for around 300 million euros. However, Asos does not take over the shops themselves.
The result: the branches may be closed.
Zara: In previous years, the Spanish textile giant Inditex was increasingly looking for premium locations in German city centers for its Zara and Zara Home brands. Here, too, the company tends to pull back in the next few years.
The aim is to increase the flow of customers in profitable stores. In a city there should therefore be fewer Zara branches, customers should concentrate on a few locations in town. Spanish media had speculated that the parent company wants to cut 1,200 stores worldwide. How many of these are in Germany is unclear.