The fashion industry suffered a major slump due to the coronavirus pandemic.
A popular H&M competitor has now got into financial difficulties.
Due to the Corona * crisis, more and more companies are getting into financial hardship *.
The fashion industry is particularly hard hit.
An H&M competitor has now opened protective shield proceedings.
Due to the
corona-
related closings in spring 2020, almost all
shops
, including
fashion stores
, had to close.
As a result, some companies have got into
financial difficulties
.
The
brands
often tried sales campaigns to make up for the lack of income.
Nevertheless, there have already been several
bankruptcy announcements
.
Now, according to
chip.de
, a popular competitor of
H&M has also
hit: the French fashion chain
Pimkie
.
The company's target group are young women between 16 and 22 years of age.
The price range can be compared with H&M, but also
Primark
.
The company has 4,000 employees worldwide.
But not all of them are
affected
by the
economic
difficulties
.
Because currently only the 75 German
branches are
affected.
They employ a total of 350 people.
Pimkie: German subsidiary must be under the protective shield https://t.co/R2E7nGrWRw pic.twitter.com/HB2vgjuF4T
- FashionNetwork DE (@FNW_DE) September 17, 2020
Corona economic crisis hits Pimkie: Initially, there are no dismissals
The company "Framode GmbH", under which the German
branches
run, has now
opened
protective shield
proceedings
at the Offenburg District Court
.
A
protective shield procedure
has the advantage that the branches can remain open and operations can continue.
Initially, this does not mean a change for customers or employees.
Many other companies that have got
into
economic difficulties
*
due to the
Corona *
pandemic also
use the opportunity.
However, in this phase management has the duty to
go through the finances
together with an
insolvency administrator
, in the case of
Pimkie
the lawyer Kilian Haus from Buchalik Brämmekamp.
There is a
need
to review how the company could get out of the
emergency
.
Then there might still be branch closings and layoffs.
"We continue to implement our transformation process under the protective umbrella," explained Managing Director Patrik van der Lind in a press release.
"We want to
remain present
with
Pimkie stores
in as many regions as possible
and at the same time consistently expand our digital presence."
* Merkur.de is part of the nationwide Ippen-Digital editors network.
List of rubric lists: © Federico Gambarini
