The district court of Bielefeld opened today for the fashion company Gerry Weber into an insolvency process. The Board informed. The court is the application of the chain to a procedure in self-administration of 25. January followed.

in contrast to regular bankruptcy proceedings, determine the proceedings in ownership, the company itself will continue its course. To the Trustee of the proceedings, the court has ordered the lawyer Stefan Meyer. The Executive Board will lead the company.

the aim of the process was the restructuring of the group, the Board of Directors. The business is to be conducted according to the company in full. The financing of the fashion provider is secured according to the current state up to the year 2020, it said. Triggered the application had been due to the Failure of the talks with the financing partners on the further financing of the group.

Gerry Weber, with the core brands, Gerry Weber, Hallhuber, Samoon and Taifun struggling for some time with sales declines and losses. Already in the past few months had heaped the bad news from the Westphalian company. Most recently, the company had to correct in mid-January its profit forecast downwards. As a result, the expected pre-tax increased your loss for the financial year 2017/18, to over 192 million Euro.