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The Dutch branch of women’s fashion chain Gerry Weber has filed for a suspension of payment, after its German parent company was declared insolvent. Both companies’ future looks markedly uncertain.
Financial problems seep through
The chain’s Dutch branch hopes that a suspension of payment would clear the way for a possible restart, Dutch newspaper FD reports. The branch currently has 38 stores, which will remain open for the time being as administrator Marc van Zanten already sees international interest for the stores.
The measure follows a third insolvency in six years for German parent company Gerry Weber International. FashionUnited reports the German court in Bielefeld has also recently handled similar applications from three subsidiaries: Gerry Weber DE (retail), E-Gerry Weber Digital (e-commerce) and Life-Style Fashion (wholesale).
In 2019, a failed refinancing led to the first major bankruptcy filing. Since then, several reorganisations have come and gone, with recovery always being short-lived. The chain’s focus shifted to wholesale, at the expense of the retail network. Last year, a significant number of jobs were lost at both the German and international divisions of the company. In 2023, the company still had a loss of 35 million euros.
