Many fashion retailers are in a permanent crisis. In the corona pandemic, business collapsed massively, now customers are saving because of inflation. And then there is the general trend towards online shopping, which is undermining brick-and-mortar retailers. Even big players like H&M have been thinning out their branch network for a number of years, while others have had to reorganize or give up completely in the event of insolvency.
In 2022, 102 retailers and manufacturers of textiles filed for bankruptcy, reports the industry magazine “Textilwirtschaft”. This year, too, there have been a number of prominent cases of bankruptcy with the fashion giant Peek & Cloppenburg and the shoe retailer Reno – not to mention the Galeria tragedy. Our photo series shows which well-known chains have recently had to flee protective shield proceedings or file for bankruptcy.
Source: Stern
