Insolvent German women’s wear retailer Gerry Weber International has confirmed it is to shutter all of its own retail stores in the UK by the end of October.
The company, which employs about 580 staff, entered into preliminary insolvency proceedings in January after negotiations with its financing partners broke down, and has since been restructuring its business.
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Earlier this month, Robus Capital took an 88% share in the retailer’s core Hallhuber unit, while last week the retailer struck an investment agreement with asset management firms Robus Capital Management and Whitebox Advisors in what it called a “milestone” in securing the company’s future.
Now, the company expects all of its own UK doors to close by 31 October. While Gerry Weber did not disclose how many locations it currently operates in the UK, the company’s online store finder tool identified four of its own stores in the region alongside a number of other locations where the brand operates as a concession.
“In the UK, Gerry Weber will concentrate its operations on its wholesale business, to perspectively grow with its business partners,” a spokesperson of the company said. “Consequently, Gerry Weber will close all its retail stores.
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“We have received very positive feedback from our customers and business partners on our new collection and look forward to continuing our good and constructive cooperation in the future.”
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