Promod
The French fashion brand, focused on women’s clothing, footwear and accessories, is one of those that withdrew from our market in the first year of the pandemic. And she was far from alone among the fashion stores.
The fashion industry is one of the sectors hardest hit by pandemics and restrictions. “The fundamental reduction in the operation of shopping centers and tens of thousands of stores and establishments has made it very difficult for many retailers to keep all existing stores at the required economic level, especially the least efficient ones. The end of 2020 brought a wave of business closures, market exits or a slowdown in activity, other brands followed in 2021, “summarizes Tomáš Drtina from the consulting company Incoming.
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Next
–Source: Shutterstock / Vytautas Kielaitis—
In 2020, the British clothing chain Next, which focused on women’s, men’s and children’s fashion and home accessories, also left the Czech retail market. The parent company has closed its Czech branch in the Czech Republic, but children’s clothing is still offered by the Next franchise with two stores in Prague, namely in the Westfield Chodov shopping center and in the Harfa Gallery. And if there is interest, the seller plans to import women’s and men’s clothing in the future.
“Arrivals and departures occur continuously and around the world – partly due to gradual changes in customer behavior. This is evolving very fast and brands must keep pace with these changes in order to retain existing and gain new customers. That is why it is necessary to constantly innovate, invest in digitalisation of sales and communication with customers, “comments Jan Kotrbáček from Cushman & Wakefield on the market. But he adds that ideas are not enough for innovation, money is also needed. “Of course, under the influence of covid restrictions, the last two years have not added strength to retail tenants.”
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monochrome
–Zdroj: Shutterstock / Grand Warszawski—
In 2020, a French company selling elegant women’s fashion also left the Czech market. Over the course of 18 years, the Camaïeu brand has opened 26 stores in the Czech Republic, for which anti-drug measures may have been just the last straw. The company ended its operations in Central Europe with insolvency; however, Camaïeu has problems worldwide, she was surprised by the rapid development of online clothing trading.
But you can still buy clothes with the Camaïeu label – online. The brand in the Czech Republic was taken over by the Digital People group, which covers four fashion brands and e-shops – ZOOT, Different, Urban Store and Bibloo.
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Orsay
–Source: Shutterstock / Kristyna Henkeova—
Magazine Forbes at the end of May informedthat the Orsay fashion chain is completing negotiations for the sale of its 90 Czech and Slovak stores. If it doesn’t turn out well, the company is said to face insolvency. The editorial staff of Penize.cz asked the German headquarters of Orsay whether it could confirm or refute the information, but did not receive an answer.
The brand has problems elsewhere. He wrote a diary last week Rhein 24that Orsay will close all branches in its home Germany by the end of June and lay off approximately 1,200 employees. The reason is financial problems due to the pandemic and the war in Ukraine. Sascha Bopp, the company’s boss, has repeatedly stated that the brand could continue under another owner.
The brand will close all stores in Poland and Hungary during June, the websites said Property News a Daily News Hungary.
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Hervis
–Photo: Hervis—
The sports chain Hervis Sport, which belongs to the Austrian trading company SPAR, is leaving the Czech market. He worked in the Czech Republic for twenty years. The chain found itself in a loss of 60 million crowns before the pandemic. During the pandemic, his losses deepened by another 40 million crowns. Part of the stores is taken over by the German competitor Intersport, wrote in February weekly Tip.
“Nine of our Hervis sales are moving under Intersport. At the moment, only two Hervis stores remain open in the Czech Republic – in the Europark shopping center in Štěrboholy and in the Avion Shopping park in Ostrava. The reason for leaving was not the covid, but the strategic reasons, “confirmed the chain spokeswoman Nicole Berkmann. According to information on the seller’s website, the last trade should be closed by the end of June 2022.
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Carpisa
–Foto: Shutterstock—
Recently, the Italians have not succeeded in the Czech Republic either. During the pandemic, the Italian brand Carpisa gradually began to withdraw from the Czech market. The chain has already closed stores in the Nový Smíchov and Arkády Pankrác shopping centers in Prague. The server informed about it E15. The Italian headquarters did not answer the editors’ question about future plans in the Czech Republic.
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fingers
–Source: Dedoles—
The Slovak seller of socks and underwear Dedoles has problems, wrote SME diary. Within three years, he managed to increase sales from 15 to 92 million euros last year, finally made a profit – but then came a decline and the company fails to repay its liabilities. At the end of May, the company asked the court for protection from creditors and announced that it was entering into a restructuring. The stores continue to operate.
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Pietro Filipi, Blazek and Kara
–Source: Shutterstock—
“Last year, the brands closed lower or medium price levels, but also those that were perceived as bearers of good quality, often of domestic origin,” recalls Tomáš Drtina from the consulting company Incoming. He points to the collapse of Pietro Filipi, Blažek and Kara brands. Due to the pandemic and the forced closing of deals, Filipi ended up in bankruptcy with debts exceeding half a billion crowns.
The Blažek Praha clothing company began to suffer from existential problems as early as 2020. The company has filed for insolvency and is undergoing reorganization.
Another Czech clothing brand, Kara Trutnov, is also recovering from the covid. ČTK informed that on April 1 the company fulfilled the reorganization plan and ended the insolvency proceedings lasting over a year.
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Iceland
–Source: Shutterstock / emka74—
The British frozen goods retailer Iceland, which filed for insolvency on 8 May, is heading for its end in the Czech Republic. The company ICL Czech, which operates Iceland stores in the Czech Republic, in insolvency petition he cites the coronavirus pandemic and brexit as the reason for its end. According to the insolvency register, Iceland owes a total of 135 creditors in the Czech Republic to 38 million crowns.
The chain closed the e-shop and closed several stores. Although the company has ten open branches, six out of eleven have been closed at the time of filing for insolvency. We did not receive a statement from the company, it does not answer questions from the editors.
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North Sea
–Source: Shutterstock / Birgit Reinz-Hoffmann—
The German network of fish restaurants Nordsee, which is operated by Master Mariner in the Czech Republic, is also heading for insolvency. The main reason is again a pandemic, they wrote Economic newspaper. According to insolvency petition the company owes 32.8 million crowns. There are now only two Nordsee restaurants in Prague’s Nový Smíchov and Palladium shopping centers. Asked about the future of the remaining two branches the company Master Mariner editorial office Money.cz she has not answered yet.
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Cross Cafe a Costa Coffee
–Source: Shutterstock / Sorbis—
Originally from Pilsen, the Cross Cafe chain continues to operate twenty cafés in the Czech Republic, and does not leave the market. At the beginning of last year, however, he closed five Prague cafés, where he felt the greatest loss of customers during coronavirus restrictions. The only café on Charles Square remained in Prague.
At the same time, the British coffee chain Costa Coffee took a similar step and put down almost half of its cafes in the Czech Republic (33 out of 55). According to the chain’s website, however, it looks like all the cafes have woken up again and opened some new ones. There should now be 59 Costa Coffee cafes in operation. However, it failed to verify – the company Lagardère Travel Retail, which operates the network, does not respond to questions from the editors.
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