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Hardly any customers: Hallhuber is in distress
Photo: Manfred Segerer / IMAGO
The 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.
For Hallhuber it is not the first bankruptcy. It was not until 2021 that investors Rouven Angermann and Torsten Eisenkolb bought the textile retailer out of insolvency. However, the Corona crisis brought the company into trouble again.
"We were eight months old when Corona came," Angermann recently told the "Textilwirtschaft". "We left out everything that didn't make sense. And we have learned to touch and improve everything again and again," says the investor. Apparently, however, this has not been sufficiently fruitful.
The fashion industry has been shaken by the changed shopping habits in the Corona pandemic, but now it is being hit by high inflation and consumer reluctance. Numerous retail chains such as Galeria Karstadt and Peek & Cloppenburg (P&C) had also filed for bankruptcy in order to be able to restructure. The shoe trade is also having a hard time. The well-known chain Reno is also currently in insolvency proceedings, and an investor was recently found for the traditional Hamburg chain Görtz after insolvency.
cr/Reuters