Gerry Weber International, a German women’s clothing retailer that has entered bankruptcy, has confirmed that it will close all its own retail stores in the UK by the end of October 2019.
The company employs about 580 people. After negotiations with financing partners broke down, the company has been restructuring its business and entered a preliminary phase in January this year. Bankruptcy proceedings.
Earlier in July, Robus Capital controlled 88% of the shares in Gerry Weber’s Hallhuber core unit. The retailer recently reached an investment agreement with asset management companies Robus Capital Management and Whitebox Advisors, saying It is a “milestone” to ensure the company’s future.
Now the company expects to close all UK stores by October 31. Although GerryWeber did not disclose the number of stores currently operating in the UK, the company’s online store search tool identified four own stores in the UK, as well as other franchised locations for the brand.
The company said in a statement: GerryWeber plans to focus its British operations on wholesale business, with the purpose of using its business partners to open up the promising growth of the British market. All retail stores in the UK are therefore closed.
We have received very positive feedback from our customers and business partners on our new range of products and look forward to continuing this good and constructive feedback in the future. cooperate.
