131 employees in Switzerland are affected by this decision. It was death by installments: In the summer, the crisis-ridden company was given another four months to implement the restructuring measures and save the company. The aim of the provisional debt restructuring moratorium was for the company to be able to continue at least parts of the business.
But that apparently marked the beginning of the end of Vögele. “In the past month in particular – i.e. since the definitive debt restructuring moratorium was approved – we have had to experience a massive and unpredictable decline in demand in this form,” explained owner Christian Müller in a broadcast on Wednesday.
That called into question the company’s revised overall strategy. Therefore, in consultation with the administrator responsible, Vögele Shoes was sent into definitive debt restructuring moratorium in mid-October. Before that, the “Blick” had reported about it.
131 employees affected
The business activities of Vögele Shoes are now expected to be discontinued by the end of 2022 at the latest, the press release continues. The decision affects 131 employees in 27 branches and at the headquarters in Uznach. A few years ago, Vögele operated more than 200 branches.
Those responsible at Vögele are “in close contact” with those affected and the unions. In addition, discussions were held with partners and suppliers in order to organize the processing of the locations and inventories by the end of the year. The rest of the stock will be sold completely by the end of the year.
Turbulent past
The company’s recent history has been turbulent. In June 2018 it was sold to the Polish CCC Group. But they were not happy with the Swiss company and only sold it to Müllers CM.Shoes GmbH last year.
The shareholders wanted to lead the group “into an even more digital future”, as it was called at the time. The company was already struggling with declining sales before the corona crisis, but experienced an additional setback due to the corona pandemic and the associated temporary closures.
Source: Nachrichten
