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Corona crisis: Well-known German fashion chain is broke - customers in shock - "Bad, I'm so sorry" 

2021-01-25T05:01:30.020Z

The corona pandemic is putting many textile retailers under massive pressure. Now a well-known German fashion chain has been hit. The company with its 3350 employees has to file for bankruptcy.



The corona pandemic is putting many textile retailers under massive pressure.

Now a well-known German fashion chain has been hit.

The company with its 3350 employees has to file for bankruptcy.

  • The renewed

    Corona

    lockdown hits the stationary trade with full force.

  • Textile traders in particular are struggling to survive.

  • After

    Hallhuber

    and

    Bonita

    ,

    Adler Modemärkte AG

    now has to

    file for bankruptcy.

    Customers are concerned.

Update from January 12th, 10:23 am:

The bankruptcy of the fashion retailer

Adler Modemärkte

has caused concern on the Internet.

“I'm really so sorry,” writes a user on Facebook.

Adler is “the only shop in Greifswald where you can still find textiles for every budget”, another.

In addition, many users worry about the employees.

For them the development is "very bad", it says on the portal.

The company employs 3350 people nationwide.

However, some users doubt that the misery at

Adler

is due to

Corona

alone

.

At Adler, revenues had already declined before the outbreak of the pandemic, writes a user on Twitter.

The lockdown "accelerated" a foreseeable development, it is said.

The company from

Haibach

near

Aschaffenburg announced

on Sunday that it had filed for insolvency proceedings in self-administration due to overindebtedness.

As a justification, Adler referred to the corona lockdown.

They want to reorganize the company through an insolvency plan.

Business operations should be continued in full, it said.  

Corona crisis: Well-known German fashion chain with 171 branches bankrupt - "What a shame, I liked shopping there"

First report from January 10th, 10.11 p.m.

-

Adler Modemärkte AG

has filed an application to open insolvency proceedings in self-administration due to overindebtedness.

As a justification, the fashion chain from

Haibach

near

Aschaffenburg

referred to the renewed closure of almost all 171 branches.

This has led to "considerable sales losses".

Despite "intensive efforts" it was not possible to "close the liquidity gap that had arisen by injecting capital from state support funds or investors," it said.

"The renewed

Corona

* -related closure of almost all locations unfortunately left us no other choice," said CEO

Thomas Freude

.

However, business operations are to be continued in full.

+

Adler Modemarkt: The well-known fashion chain is fighting for survival due to the corona pandemic.

© Company

Adler is planning a bankruptcy in self-administration.

The board of directors remains in office and authorized to issue instructions.

In addition, the lawyer

Christian Gerloff is

appointed as general representative.

Gerloff is an experienced expert and most recently worked

as an insolvency administrator for

the world-famous fashion house

Escada

*.

Adler Mode GmbH, Adler Orange GmbH & Co. KG and Adler Orange Verwaltung GmbH - each wholly owned by subsidiaries - have also decided to apply to the Aschaffenburg District Court to open insolvency proceedings under self-administration.

According to its own information, Adler Modemärkte AG currently operates 171 stores, 142 of them in Germany, as well as an online shop.

There are other markets in

Austria

,

Luxembourg

and

Switzerland

.

The focus was on the age group from 55 years.

The company was most recently known to the wider public through brand ambassador

Birgit Schrowange

.

Adler Modemärkte: Corona pandemic hits the industry with full force

In 2019 the group achieved a turnover of 495.4 million euros.

As of September 30, 2020, it had around 3350 employees.

The company was founded in 1948 as a clothing company in Annaberg (Saxony).

“Oh dear, I liked shopping at Adler.

There was also a large selection for large sizes and at a reasonable price, ”wrote a regular customer on a Facebook post from BR24.

Others, however, think that Adler has declined: “I was a loyal Adler customer for a long time, but the range has not been appealing to me in recent years!

That will probably have affected more customers.

Corona was certainly not to blame.

Perhaps one should classify this under market adjustment ”, writes a customer.

“Adler Mode is old-fashioned, at 71 I can't even find a chic item”, another.

Many companies in the fashion industry were not doing well before the Corona crisis.

Most recently, numerous textile retailers and manufacturers had to file for bankruptcy, including

Hallhuber

,

Bonita

and

Galeria Karstadt Kaufhof

.

They had little to counter

the triumph of online retailing and the success of fast fashion providers such as

Primark

or

Zara

.

* Merkur.de is part of the nationwide Ippen digital network.

(dpa / red)

Source: merkur

All news articles on 2021-01-25

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