The German women’s fashion brand Gerry Weber filed for insolvency with a court in western Germany on Tuesday and is seeking to once again undergo restructuring.
The aim of the proceedings is to continue the company as a going concern. Lucas Flöther has been appointed as administrator for the insolvency, according to the company.
A new owner is now being sought and dpa has learned that initial talks are already under way.
The company employs just under 230 people in Germany.
Business operations at the 32 stores and 11 outlets in Germany are to continue without restrictions.
Restructuring expert Christian Gerloff, who has been appointed to the management board, is to accompany the process, the company said.
One of the reasons Gerloff gave for insolvency filing was the weak consumer climate in Germany and other parts of Europe.
Despite the deep cuts at Gerry Weber carried out in recent years, it is once again necessary to adjust the strategy and structures, Gerloff said.
Gerry Weber has already been restructured twice, in 2019 and 2023. In 2023, the company also closed 122 of the company’s 171 stores and outlets in Germany, eliminating around 450 jobs.
Gerry Weber was founded in 1973 in the western German town of Halle under the name Hatex KG.
The fashion industry is experiencing challenging times.
Recently, well-known companies such as Germany’s Galeria department store chain and the fashion retailers Esprit and Sinn filed for insolvency.
The companies are struggling with the fact that customers are reluctant to spend while the costs of energy, rent and salaries have risen sharply. Fierce competition from online retailers has also been a challenge.