Wednesday, March 23, 2016

Steilmann declares bankruptcy – FAZ – Frankfurter Allgemeine Zeitung

Hardly asked: Mode of Steilmann

the clothing company Steilmann, which includes amongst others the Adler fashion stores belong is insolvent. “The board of Steilmann SE has today reached after extensive examination to the conclusion that in the course of current business performance, the Steilmann SE is insolvent,” the company announced Wednesday in Bergkamen in a mandatory notification with. Restoration negotiations were not successful. “The Board will ask the bankruptcy petition without further delay in this context,” the report said. The company was not immediately be reached for inquiries

The company with internationally more than 8300 employees had gone until November 2015 the stock market -. With little success. Thus, the IPO could take place at all, the fashion group with the target group “Best Ager (45+)” had decided to reduce the number of shares offered to the minimum requirements for admission to the regulated market on the Frankfurt Exchange. Ultimately shrank the proceeds of expected EUR 98 million to less than 9 million euros. The company, Klaus Steilmann had once founded in Wattenscheid, had been taken over by Italian business families, which led the company until recently.

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the bankruptcy of the Steilmann group adapts to a series of negative reports from the German clothing industry. So industry heavyweights such as Gerry Weber and Hugo Boss have reported weak Shops, 2015. Gerry about sweeps every tenth of 7000 jobs. At Hugo Boss of CEO Claus-Dieter Lahr had according to a forecast reduction step down.

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