As of: February 16, 2024, 9:58 a.m
By: Katharina Heyn
Comments
Press
Split
After the bankruptcy ends, the fashion retailer P&C wants to reduce the space at some locations.
There should also be no more “discount battles”.
Düsseldorf/Hamm - Less space, but more probability?
After the insolvency proceedings have been completed, the fashion retailer Peek & Cloppenburg wants to reduce the space at some of its 69 locations in Germany.
Although the P&C branches are, there is still a need for action in the long term, says managing director Thomas Freude in an interview with the
Rheinische Post
.
“There will be mixed-use concepts, with hotels or offices in the same building,” says Freude.
Peek & Cloppenburg: Smaller branches and fewer “discount battles”
Peek & Cloppenburg KG Düsseldorf unexpectedly had to file for bankruptcy in March 2023 and saved itself in protective shield proceedings.
At the beginning of October ,
Peek & Cloppenburg was able to end the insolvency proceedings and reorganized itself under self-administration, reports
wa.de.
According to Freude, online retail, like many other fashion retailers, is still making a loss.
“We relied too much on online shopping and invested in new customers – but that carries the risk of accumulating high losses,” says the managing director.
The share of online trading in total sales at Peek & Cloppenburg currently accounts for ten percent and should not exceed 15 percent in the future, explained Freude.
Entrance to the Peek & Cloppenburg department store in the city center.
© Thomas Banneyer / dpa
No more big discount promotions: less offer of discounted goods
The company also wants to withdraw from the “discount battles” and offer fewer discounted goods.
“In the future, we will only offer discounts on special items at the end of a season in order to clear out the inventory,” said Freude.
There will no longer be discounts on the entire range or new goods at P&C.
The company wants to open “at least” two new locations in Germany by 2025.
One in Leipzig, the other location is still being negotiated.
However, there should be no closures.
The company has almost 70 houses and around 6,000 employees.
The company from North Rhine-Westphalia should not be confused with Peek & Cloppenburg Hamburg.
The world-famous rock band AC/DC will play two concerts in North Rhine-Westphalia in May 2024.
Advance sales for tickets will start in a few days.