Well-known women's fashion retailer about to make a comeback - new hope for the remaining 1,800 employees

The next bankruptcy has apparently been averted in the German textile retail sector.

The well-known women's fashion retailer Bonita wants to leave the bankruptcy proceedings behind them this month.

Hamminkeln - After securing the continued existence of the fashion discounter Takko, the future of the next fashion retailer has now been clarified: The economically troubled womenswear retailer Bonita wants to end the insolvency proceedings initiated in 2020 under self-administration and restart it in the current year.

The Hamburg district court confirmed the insolvency plan approved by the creditors in February, the company announced on Monday.

This means that Bonita has cleared the last hurdle in the restructuring process and that the company will be preserved.

Bonita: Managing Director sees great success

"This is a great success," emphasized the trustee Sven-Holger Undritz, appointed by the court, in view of the challenges for trade caused by the Corona crisis.

After the bankruptcy proceedings have been lifted, Karsten Oberheide remains the sole managing director.

The fashion brand Bonita, founded in 1969, had to seek refuge in protective shield proceedings last year.

The company, which was already ailing before the pandemic, was still part of the Tom Tailor Group at the time, but was taken over by an investor team led by Managing Director Oberheide in the course of the insolvency proceedings as part of a management buy-out.

Bonita: Branch network is being downsized again

The company had already significantly reduced its branch network in recent years and made further closings in the course of the insolvency proceedings.

According to its own information, Bonita currently has around 450 branches of its own and around 50 sales outlets with partners such as Galeria Karstadt Kaufhof.

The fashion retailer currently employs around 1,800 people.

It wasn't until Monday morning that the fashion discounter Takko gave the all-clear after granting a bridging loan.

Takko announced that the owners and the house banks had made a total of 54 million euros available.

Takko employs 18,000 people across the group, 14,000 of them in Germany.