;Resize=(1200,627)&impolicy=perceptual&quality=medium&hash=218a468157b09f354886e74a89810926ccea404daa3ea4204d8a0f0baf9ca793 "Industry in crisis – fashion chain TK Fashion Group is insolvent")
With the TK Fashion Group, another German fashion chain has to go bankrupt. The reasons given are the consequences of the pandemic and the war in Ukraine.
Many German fashion retailers have to make cutbacks in view of the current crisis. With the TK Fashion Group GmbH, the next chain has now had to file for bankruptcy. However, the business operations of the company founded in 2014 should continue without restriction, as the “Textile Industry” found out.
The insolvency administrator is the lawyer Dr. Biner Bähr from the law firm White & Case, who was already responsible for the insolvencies of Esprit and Hertie, among other things.
TK Fashion Group is insolvent: business should be continued
The reasons for the financial problems are the consequences of the corona pandemic and the war in Ukraine. The number of customers fell sharply as a result, while the costs for energy and the like rose.
However, customers need not worry for the time being. The locations remain open and online orders are “fulfilled as ordered”, as confirmed by lawyer Frank Leswal. The salaries of the 135 employees are now secured by the insolvency money. However, a recovery plan must now be drawn up. It is still unclear whether jobs will also have to be cut as a result.
