Adler Modemärkte: Boss calls for help after a drastic drop in sales

The corona crisis brought the Adler fashion chain to its knees.

Now the company is hoping for support from the state and is asking for a comparatively small amount.

Haibach - The fashion retailer Adler, who has come under pressure due to the corona pandemic, feels that the federal government has let down in the pandemic.

The company is not entitled to money from the state bridging aid III, despite financial problems through no fault of its own, complained CEO Thomas Freude on Tuesday.

The company from Haibach near Aschaffenburg with around 3200 employees has been in the process of insolvency under self-administration since January.

Joy said Adler was in perfect health before the pandemic.

"We had no bank liabilities." However, due to the state-decreed closure of the more than 140 German locations, Adler has lost around 280 million euros in sales since spring 2020.

Adler Modemärkte: Hope for Loans

Adler needed a loan from Berlin in the amount of around ten million euros from the economic stabilization fund, the state rescue package in the corona crisis, so Freude.

So far, however, there has been no commitment.

The Federal Ministry of Economics “did not want to provide any information on ongoing examinations of the economic stabilization fund”, as the press office of the ministry announced. The Federal Ministry of Finance did not initially respond to a request.