;Resize=(1200,627)&hash=696d71be5936c3288096ee8a294d5eee583f15e61298f97f5e87327c7f78486c "Operations will continue for the time being – fashion group Ahlers AG files for bankruptcy")
Operations will continue for the time being: fashion group Ahlers AG files for bankruptcy
The fashion manufacturer Ahlers AG has filed for bankruptcy more than 100 years after it was founded. The reasons given include the consequences of the pandemic.
The economic problems in the German fashion industry are getting more and more companies into trouble. The men’s fashion manufacturer Ahlers announced on Monday that it would file for insolvency at the District Court of Bielefeld for Ahlers AG and seven subsidiaries due to impending insolvency.
The trigger for the decision was essentially the business development, which was below planning, said company boss Stella Ahlers. The consequences of the corona pandemic and the associated disrupted supply chains, general reluctance to buy, high inflation and bankruptcies in retail made the step inevitable. Nevertheless, she sees future options for the company, emphasized Ahlers.
According to the company, filing for bankruptcy is also planned for the subsidiaries Ahlers PC GmbH, Ahlers Retail GmbH, Ahlers Zentralverwaltung GmbH, Ahlers Vertrieb GmbH, Pioneer Professional Clothing GmbH, Pioneer Jeans-Beclothing GmbH and Baldessarini GmbH. The companies from abroad, on the other hand, are currently not affected.
Ahlers AG is insolvent: business operations will be continued for the time being
With brands such as Baldessarini, Pierre Cardin, Pioneer and Otto Kern, Ahlers AG generated sales of EUR 171 million in the 2021/22 financial year. The revenues were thus well below the pre-corona level of 207 million euros. Ahlers currently employs around 1,700 people. Around 400 employees work in the companies affected by the insolvency applications. They receive insolvency money from the Federal Employment Agency for the months of April, May and June.
Just last week, the fashion manufacturer Gerry Weber announced that it would apply to the Essen district court to initiate proceedings under the law on the stabilization and restructuring framework for companies (StaRUG) in order to accelerate the company’s financial restructuring process. The aim of the StaRUG procedure is for entrepreneurs to be able to restructure their business without having to go through insolvency proceedings. At the same time, the German retail business of Gerry Weber Retail GmbH is to be restructured with the help of insolvency proceedings under self-administration.
The original of this post “Fashion group Ahlers AG files for insolvency” comes from chip.de.
dpa/CHIP
