Thomas Freude, Managing Director at P&C since the beginning of the year, is also quoted as saying that although the multichannel strategy is being adhered to, the focus is now clearly on the “core business in stationary retail”. In online trading, people will act more cautiously than in previous years.
The manager’s name is missing from the notification of the protective shield procedure.
(Photo: Peek & Cloppenburg)
Freude is the founder of a consultancy that also offers interim management and restructuring. He has many years of industry experience, including at Otto and most recently as head of Adler fashion stores. But he was also on the management board of Telekom for ten years from 2007.
Apparently, owner Patrick Cloppenburg wanted to use the protective shield procedure to reorganize the company and also part with expensive employees, according to company-related circles. So far, however, a new concept has not yet been identified, according to the workforce. There is also criticism of the communication of the restructuring process.
Probably no redundancies for operational reasons
The employees, as well as some suppliers, have already been informed in advance. Managing Director Freude told the “Wirtschaftswoche” that the company with around 6800 employees will probably be able to manage without any redundancies in its stores.
He expects the protective shield procedure to be completed soon: “We assume that we will be able to complete the procedure by the end of the year at the latest via an insolvency plan.” This will then regulate which creditors are willing to make which concessions so that the company can continue . The owner family have also “already signaled their basic support”.
An insider reports that Peek & Cloppenburg’s protective shield procedure is a serious blow to the suppliers. Some were already informed on Thursday.
An application for a protective shield procedure was also filed for Peek & Cloppenburg Retail Buying GmbH & Co. KG. Other companies of the group in Germany and abroad as well as the sister company Peek & Cloppenburg in Austria are not affected by the protective shield. They continue their business activities without restrictions, as do the Ansons’s fashion houses in Germany.
The company Peek & Cloppenburg Hamburg, which is independent of P&C Düsseldorf, is not affected by the protective shield procedure.
With agency material
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