Last updated: 15.01.2024, 22:58
By: Julia Stanton
CommentsPrint Share
After Galeria Kaufhof filed for insolvency last week, Wormland is now also close to the end. PETA criticizes the company.
Hanover – Fashion retailer Wormland filed for insolvency at the Hanover Insolvency Court on Friday. Until the summer of 2024, the company is under protective shield proceedings that are intended to enable its restructuring. The animal welfare organization PETA is now settling accounts with the men's fashion retailer for disregarding animal welfare guidelines.
PETA expert criticizes insolvent fashion chain: "Wormland generates profit through animal suffering"
Julia Zhorzel, an expert on animals in the clothing industry at PETA, sharply criticizes Wormland: "Long before its financial difficulties, Wormland was morally bankrupt because the company still generates its profit through animal suffering." The reason for the criticism is the sale of real fur.
Zhorzel hopes that the management will see the impending insolvency as a wake-up call and make its product range free of animal suffering in the future. "In this way, it can help slow down the climate catastrophe and protect the lives of millions of sentient beings."
Insolvency of fashion chain Wormland: Inflation drove up costs
The fashion chain operates stores in several major German cities, including Munich, Berlin and Frankfurt am Main. A total of 12 shops are to remain open until further notice despite the insolvency. Thanks to the insolvency benefit of the Employment Agency, the salaries of the employees are secured for the next three months. The management of the company will also remain the same for the time being.
The company "Wormland" has filed for bankruptcy. © Snowfield Photography/Imago
The reason for the insolvency proceedings was high inflation, which would have led to higher costs. The purchasing power of consumers is also currently weakened as a result. Although annual revenue in 2023 was slightly higher than the previous year, it was no longer possible to offset the higher costs.
My news
Student revolt against statue of Greta Thunberg: University reaction is followed by sheer mockery
Before flight on holiday island: Pilot makes disturbing announcement to passengersRead
According to Eurojackpot statistics, these are the most common winning numbers.
Incest criminal Josef Fritzl could be released – lawyer: "I wouldn't be afraid to move into a shared flat with him"read
Fork trouble in Austria – guest feels "ripped off" by restaurant billread
Minus 55 degrees! Russian Winter Makes Faces Freeze Read
Two bankruptcies in one week: department store chain Galeria Kaufhof also files for insolvency
In 1935, Theo Wormland founded the company named after him in Hanover. At the time, he was considered the "avant-gardist of men's fashion". In 2015, Wormland was taken over by the Munich-based department store Ludwig Beck.
In addition to the fashion company, Galeria Kaufhof is also bankrupt again. The reason for this is the financial problems of the Austrian parent company Signa. For the department store chain, it is the third insolvency in less than four years. (jus)