All Corporate articles – Page 2
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News briefs
Hamburg fashion label Closed files for insolvency
The German fashion label Closed has filed for insolvency with the Hamburg District Court, joining a growing list of local high-profile bankruptcies in recent years. The company cited excessive debt as the reason for the filing. Despite the move, Closed said business operations – including wholesale, e-commerce and brick-and-mortar ...
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Debenhams obtains new £175m credit facility
Debenhams Group, the British online fashion retailer formerly known as Boohoo, said that it has completed a new three-year facility providing access to funding of up to £175 million (€202m). The new facility, which extends maturity to August 2028, replaces a previous £125 million revolving credit facility originally due to ...
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ArticleGabor launches a new brand strategy, cuts jobs at its Portuguese plant
The German footwear manufacturer Gabor Shoes is revamping its brand identity for the spring/summer 2026 season in a bid to expand its international footprint and customer base. The new brand strategy, “Gabor One,” aims to unify its digital and physical presence across products, packaging and marketing materials, with a focus ...
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Schuhplus to cease operations at year end
The German plus-size shoe retailer Schuhplus will cease operations at the end of the year, after 14 years in business. The company has announced the closure of its locations in Dörverden and Saterland, both in Germany’s Lower Saxony region. Eleven employees will be affected. The owners, Kay Zimmer ...
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ArticleSchuh Graf files for bankruptcy
Schuh Graf has filed for bankruptcy and initiated restructuring proceedings under self-administration as persistently adverse market conditions continue to put a strain on the German shoe retailer. The Stuttgart District Court granted the application and appointed Tibor Daniel Braun, from the Stuttgart-based law firm Illig Braun Kirschnek, as the provisional ...
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ArticleOnygo files for insolvency after failed rescue attempt
The German shoe and fashion retailer Onygo, previously owned by Deichmann, has filed for insolvency proceedings under self-administration with the Hamburg District Court after a recent rescue attempt proved unsuccessful. All 23 stores nationwide and 150 employees are affected. In October 2023, Deichmann announced that its sneaker and streetwear ...
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ArticleGerry Weber closes all its stores
Gerry Weber is shutting down all its remaining stores in Germany and Europe and selling its trademark rights to the Spanish Victrix Group. The demise of the German fashion group is the result of the latest insolvency proceedings, the third in just a few years, and its unsuccessful restructuring efforts. ...
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Frasers sets up a new financial arrangement
Frasers Group has now entered into a new term loan and revolving credit facility with its banks which replaces its existing financing facilities of £1.65 billion (€1.91bn), excluding Frasers Group Financial Services Limited’s securitised loan. The new facility, which is valid for three years, with two one-year extension options for ...
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Caleres increases and extends its revolving credit facility
Caleres has entered into an amendment of its credit agreement, which extends its senior secured asset-based revolving credit facility to June 2030. The US footwear company’s borrowing capacity under the agreement will increase by $200 million to $700 million, and includes an accordion feature, which allows Caleres to request an ...
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ArticleAllbirds sets up new financing agreements
Allbirds entered new financing agreements to optimize its working capital and enhance its financial flexibility to support long-term growth plans. A new $75 million asset-based revolving credit facility with Second Avenue Capital Partners, consisting of a $50 million tranche and a $25 million accordion feature, replaces the company’s previous $50 ...
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Princesse tam tam, Comptoir des Cotonniers reportedly file for receivership
The French fashion retailers Princesse tam tam and Comptoir des Cotonniers have filed for receivership with a Paris-based court, the news agency AFP said citing a source close to the matter. The move was motivated by the ongoing deterioration of the retailers’ financial situation in a market that has not ...
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Schütze Schuhe celebrates 100th anniversary
Schütze Schuhe, one of Austria’s leading manufacturers of safety shoes, marked its 100th anniversary last month with a commemorative event at the Bruckmühle center in Pregarten, Upper Austria. Around 160 guests, including business and political representatives, customers, partners and staff gathered to celebrate the family-owned company’s milestone and its strong ...
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ArticleANWR Group streamlines its structure
The German buying group ANWR launched a structural reform aimed at boosting efficiency by streamlining operations. At its annual general meeting on May 26, the cooperative’s members approved the merger of ANWR Garant International GmbH (AGI) into ANWR eG, a move designed to cut the number of subsidiaries by approximately ...
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ArticleGörtz closes its last store in Hamburg amid ongoing insolvency turmoil
Görtz has closed its store in Hamburg’s Europa Passage, the last remaining shop in the hometown of the troubled German footwear retailer. Leftover stock from the closed store has been transferred to locations in Lübeck and Oldenburg, which remain operational. According to insolvency administrator Gideon Böhm, some staff will continue ...
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ArticleLowa and Ecco close factories in Slovakia
The German outdoor footwear brand Lowa Sportschuhe GmbH and the Danish footwear brand Ecco are set to close their production facilities in Slovakia in the summer of 2025. The decisions raise questions about the future of the country’s footwear industry, which has been hampered in recent years by rising energy ...
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ArticleCortina merges its private label activities
Cortina, a Belgian developer and distributor of footwear, has merged its Best Buy Shoes (BBS) and private label divisions into a single entity Cortina Private Label. “Under the new structure, Cortina Private Label will offer one streamlined collection with three distinct business models, each tailored to meet the needs of ...
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ArticleAndré placed into receivership, again
The French footwear retailer André was placed in receivership on April 30 by a Paris-based commercial court. It is the third time in five years that the banner has been placed in receivership. On May 4, 2023, the Belgian company Optakare, run by Karim Redjal, was chosen by a Nanterre-based ...
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Jennyfer files for liquidation
On April 30, the Bobigny commercial court near Paris placed Jennyfer into compulsory liquidation, putting 999 jobs at risk. The French fashion brand can continue operating until May 28, when the court will examine possible takeover offers. “Exploding costs, falling purchasing power, changes in the textile market and increasingly aggressive ...
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News briefs
VF cuts 400 jobs
VF Corp., the parent company of outdoor and lifestyle brands including The North Face, Timberland, Vans and Dickies, has laid off approximately 400 employees across its global operations, as reported by US trade publication Shop Eat Surf Outdoor. According to a company statement, the layoffs are part of VF Corp.’s ...
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ArticleSemler relocates production to Hungary, cuts 25 jobs in Pirmasens
Carl Semler has decided to relocate most of its production to Hungary in order to secure its competitiveness, said the insolvent German footwear manufacturer. The Pirmasens manufacturing site will be retained, albeit with a reduced workforce. Shoe production will be concentrated in the company’s factory in Pécs, Hungary. This ...
