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Hallhuber business: Hit by "market-known multiple crises"
Photo: Manfred Segerer / IMAGO
The Munich-based fashion chain Hallhuber has once again run into difficulties and is now to realign itself in insolvency proceedings under self-administration. The background to this is "market-known multiple crises in the textile retail trade and (the) resulting massive loss of sales," the company announced. Hallhuber had decided to take this step in order to be able to pursue the search for a new financial investor.
The previous management will continue to lead the company and will be monitored by the court-appointed trustee Christian Gerloff. In addition, the restructuring experts Sven Tischendorf and Alexander Höpfner will come on board as managing directors, according to the move, which was previously reported by the industry magazine "Textilwirtschaft". It is possible that the fashion retailer is now looking for a new financial investor.
Customers more cautious due to inflation
Hallhuber, founded in 1977, has about 110 branches and 1100 employees throughout Germany, had already had to be saved from bankruptcy in 2021. At that time, investors Rouven Angermann and Torsten Eisenkolb took over the Gerry Weber subsidiary. "We left out everything that didn't make sense. And we have learned to touch and improve everything again and again," Angermann had recently told "Textilwirtschaft".
Now the chain is once again facing serious problems with solvency. In this respect, it is exciting to see in which areas the company still wants to save. The nature of the crisis has also changed. While Hallhuber, like the entire fashion industry, suffered from the changed shopping habits during the corona pandemic two years ago, it is now being hit by high inflation and the resulting reluctance of consumers.
In addition to Hallhuber, numerous other retail chains such as Galeria Karstadt and Peek & Cloppenburg (P&C) have also filed for insolvency.
apr/Reuters