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Monday, March 27, 2023

Peek & Cloppenburg in Germany is bankrupt

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Peek & Cloppenburg
Image: dpa
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The management submitted the application for the protective shield procedure to the Düsseldorf district court on Friday in order to accelerate the restructuring process that had already been initiated, the company said. All 67 sales outlets in Germany and the online shop should remain open without restrictions.

P&C wants to use the protective shield procedure to adapt to the changed market conditions in Germany and to reposition itself for the future. According to current plans, there are no plans to close houses, as the dealer emphasized.

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In 2020 and 2021, the Covid 19 pandemic led to a massive drop in sales at Peek & Cloppenburg Düsseldorf, the company reported. “The effects hit us hard and caused a three-digit million loss,” said Steffen Schüller, Managing Director of the company since June 2022.

The sister company Peek & Cloppenburg in Austria is not affected.

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: Nachrichten

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