herstructurering

German department store chain Galeria Karstadt Kaufhof is on the brink of collapse and is asking the German authorities for state aid in the form of emergency loans. So far, however, it has not had that much success.

According to German sources, C&A is planning to close up to one hundred stores in Germany. The fashion group wants to rehabilitate its most important market through a major restructuring programme.

FNG, the parent company of Miss Etam and Claudia Sträter, among others, is restructuring its Dutch head office organisation, resulting in the loss of 50 jobs. At the same time, the company has announced the appointment of Richard Turk as the Managing Director for FNG Netherlands.

The creditors of the fashion group Gerry Weber have almost unanimously approved an insolvency plan, therefore paving the way for a new start with new owners.

The British fashion chains Topshop and Topman ended their previous financial year with a loss of 505 million pounds (567,50 million euros) before tax. The group is now planning a major restructure, which will put thousands of jobs at risk.

Belgian restructuring specialist Stefaan Vansteenkiste is promoted to CEO at Debenhams, in an attempt to save the British department store chain from bankruptcy.

In a quest for cash, French supermarket group Casino is selling its subsidiary Vindémia in the Indian Ocean. In the domestic market of France, three hypermarkets will also be sold to competitors.