Gerry Weber Closes German Stores After Insolvency
halle/Westphalia – May 30, 2024 – Gerry Weber is closing all of its German stores due to insolvency, after the fashion manufacturer’s previous turnaround attempts failed. The Spanish fashion company Victrix is set to acquire the Gerry Weber brand, but the remaining physical stores are to be shuttered.The brand’s women’s fashion will be sold through partners. For further details, read on.
Gerry Weber Closes All German Stores After Insolvency
Halle/Westphalia, Germany – May 30, 2025 – Gerry Weber, the fashion manufacturer, is shuttering all of its stores in Germany following insolvency. The move comes after the provisional creditor committee approved a takeover concept by Spanish fashion company Victrix,with preliminary administrator Lucas Flöther also giving his approval.
Takeover Details
The Spanish family company, Victrix, will acquire the Gerry Weber brand. Though, the remaining 40 Gerry Weber shops and outlets in Germany, along with othre international locations, are slated for closure in the coming months. The new brand owner intends to sell Gerry Weber womenS fashion in Germany through trading partners who also carry other brands.
Failed Refurbishment Attempts
Gerry Weber has been facing a crisis for an extended period. Previous attempts to revitalize the company in 2019 and 2023 were unsuccessful, and even critically important cost-cutting measures failed to produce the desired positive financial impact. In 2023, Gerry Weber closed 122 of its 171 own shops and outlets in Germany, resulting in the elimination of approximately 450 jobs. Despite these efforts, the company’s financial situation did not improve.
Brand Acquisition by Victrix
The complete shutdown will occur, with only the brand continuing under new ownership. Victrix, whose fashion brand is called Punt Roma, will also handle production. Gerry Weber,once a prominent sponsor of a well-known tennis tournament in Halle/Westphalia,will cease to exist as a manufacturer.The financial details of the agreement remain undisclosed.
Did You Know?
Gerry Weber sponsored a prestigious tennis tournament in Halle/Westphalia, Germany, for many years, raising its brand visibility significantly.
According to the management of the Victrix Group, Gerry Weber fits perfectly with our core brand Punt Roma.
They added, We are expanding our position in the upper middle price segment, especially in Central and Eastern Europe, where gerry Weber has a high level of awareness.
The company also stated that due to the quickly conversion of production and other processes to existing Victrix structures, a seamless transition is ensured for trade and end customers.
Industry-Wide Challenges
Germany’s fashion industry is currently experiencing significant challenges. Recently, well-known companies such as the Galeria department store chain, as well as fashion retailers Esprit and sinn, have filed for insolvency. These companies attribute their difficulties to reduced consumer spending due to the weak economy, coupled with increased costs for energy, rent, and salaries. The situation is particularly challenging for brick-and-mortar textile and fashion retailers, who suffered substantial losses during the pandemic. While business has partially recovered, it has not yet reached pre-pandemic levels.
Frequently Asked Questions (FAQ)
Pro Tip
Consumers can expect to find Gerry Weber products at multi-brand retailers, particularly those focusing on the upper-middle price segment in Central and Eastern Europe.
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