Two major Swedish fashion brands on their way to bankruptcy

Gotoga AB acquired both Whyred and Hope in 2018, with the plan to acquire even more companies into a digitally focused fashion group.

But in early August, the parent company Gotoga and the subsidiary Whyred went bankrupt.

On Thursday, the news came that the sister company Hope had also submitted a bankruptcy application, which is still awaiting a decision from the district court.

According to Dagens industri, Gotoga has for a long time had difficulty paying debts, and during the autumn the cause of the bankruptcies will be investigated in more detail.

Whyred's two own stores in Stockholm will close in August, and in the other places where the fashion brand is sold, sales will be discontinued. How many will lose their jobs and what will happen to the fashion brand Hope is still unclear.