Fashion retail: P&C wants to take over the insolvent fashion chain Sinn

The fashion retailer Peek & Cloppenburg Düsseldorf (P&C) wants to take over the insolvent textile chain Sinn. The company confirmed this to the German Press Agency. An offer was made to the insolvency administrator, said a spokeswoman.

The plan is therefore to continue to operate the company as Sinn GmbH with the central location in Hagen and all existing branches. When asked, P&C initially did not want to provide any information about the possible effects on the approximately 1,500 employees.

The industry trade journal “Textilwirtschaft” had previously reported. The prerequisite for a takeover is that Sinn’s creditors agree – and the Federal Cartel Office. P&C has already submitted an application. The merger control proceedings have been running since January 15th (ref. B2-21/25), as can be seen from the competition watchdog’s website.

Creditors are expected to make a decision in March

When asked, Sinn did not want to comment on the offer. “We do not comment on ongoing proceedings,” said a spokesman. Sinn GmbH filed for insolvency under self-administration in August 2024. Business operations in the 41 Sinn fashion stores across Germany have continued since then. The creditors’ meeting is expected to take place in March.

The spokesman did not want to say anything about possible further offers. According to industry circles, the current Sinn partner Isabella Göbel is also said to be interested in continuing the company.

The company says it was founded 175 years ago. Most of the fashion houses are located in North Rhine-Westphalia. The retailer had already slipped into bankruptcy several times in the past, including under the name SinnLeffers.

P&C Düsseldorf only completed restructuring proceedings in autumn 2023. The fashion retailer, which also owns the Anson’s chain, has 160 locations in 16 countries, half of them in Germany. 16,000 people are employed worldwide. The company from North Rhine-Westphalia should not be confused with Peek & Cloppenburg Hamburg, which is a different company.