There are currently many bankruptcies in fashion companies.
(Photo: Imago, dpa)
Dusseldorf There are many well-known names on the list of fashion retailers who recently had to file for bankruptcy. The fashion chain Peek & Cloppenburg Düsseldorf is one of them, as is the shoe retailer Reno and the department store group Galeria.
In the first quarter alone, 27 fashion and shoe retailers took this step – more than twice as many as in the same period last year. This is shown by an evaluation by the management consultancy Falkensteg for the Handelsblatt. Meanwhile, the number of insolvencies in the economy as a whole rose by only 20 percent.
The fashion industry has been under pressure for years. First stationary providers lost sales to online retailers, then the pandemic caused losses, now inflation and high costs are exacerbating the crisis. While in the past it was mostly sheer necessity that drove dealers into bankruptcy, it is now often a matter of calculation: with bankruptcy, companies can restructure themselves cost-effectively and gain advantages over the competition.
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