Ailing fashion manufacturer Gerry Weber will close 120 stores and cut 454 jobs in Germany. In January, the company received a suspension of debt repayment.
Gerry Weber has reached an agreement with the union representatives on the restructurings that were announced earlier: the fashion producer will close 120 German outlets. In the process, 454 jobs will be lost. 300 of them will be in the targeted stores and the rest in the company's administrative headquarters.
Across Europe, the plan is to close a total of 180 stores. The company received a suspension of debt repayment in January and is now in the middle of a restructuring and re-orientation process, which should be completed in 2021. Earlier this year, the expectation was for 230 outlets to be closed.