Clear-cut at the fashion chain Adler: Every sixth job should be eliminated

Corona has hit many fashion retailers hard.

The traditional fashion chain Adler even had to file for bankruptcy.

A tough renovation course should now bring about the turning point.

Haibach - The insolvent textile chain Adler Modemärkte wants to cut up to 500 jobs during the planned renovation.

The company announced on Tuesday after submitting the insolvency plan to the Aschaffenburg district court.

Based on the latest headcount of 3,100 employees, this means that every sixth position would be lost.

In addition, the clothing retailer wants to significantly thin out its branch network in Germany.

A total of 40 of the around 170 locations on the home market are to be closed, a company spokesman told

on Friday

.

It was said that there are still a good 100 locations planned in this country in the future.

There are also 29 foreign branches in Austria 24), Luxembourg (3) and Switzerland (2).

They are not affected by the bankruptcy and will continue.

“I am relieved that Adler has good future prospects thanks to the investor agreement with Zeitfracht.

The path that has now been taken includes a future-oriented repositioning of the company, ”said Adler boss Thomas Freude.

He should stay on board and implement the restructuring.

Adler Modemärkte: Months of closings during the corona pandemic

Adler had surprisingly filed for bankruptcy at the beginning of the year.

The long-term closings during the corona pandemic hit the traditional company with full force.

In mid-May, the clothing retailer took a loan from the economic stabilization fund to find an investor.

The fashion chain has now struck gold. The rescuer of the highly indebted company wants to be the conglomerate Zeitfracht, which has signed an investor agreement and wants to take Adler off the stock exchange. This is not good news for the previous shareholders, as their papers are becoming worthless according to the current plans. The district court had formally opened the insolvency proceedings on Thursday (July 1st). The creditors should agree to the insolvency plan at the end of July, according to Adler, the insolvency proceedings could be ended again at the end of August 2021.