The fashion industry is in crisis. Now Yeans Hall has also been hit. You can find out what’s next for the company here.
Ann Katrin Hahner
12/18/2023 | As of: 6:16 a.m
Since the Corona pandemic and the rise of e-commerce, the fashion trade in Germany has been facing unforeseen challenges. In combination with the economic situation, this has now led to numerous bankruptcies in the fashion sector. Among other things, there were Onygo, Madeleine Modedie Swabian necklace Peter Hahn and that Augsburg fashion house Rübsamen affected. As has now become known, fashion retailer Yeans Halle also has to reposition itself. What’s next for the company?
By the way: Meanwhile has A foreign fashion brand took advantage of the opportunity to establish itself on the German market. The first branches opened in autumn.
Fashion chain from the southwest goes bankrupt: This is what is now happening to Yeans Halle
Trender Jeansmode GmbH & Co., the parent company of Yeans Hallen with headquarters in Sindelfingen, is an established name in the German fashion trade. Since its founding in 1977, it has developed into an important fashion chain in southwest Germany and operates 18 branches in southwest Germany. These are located, among others, in Amtzell, AugsburgKarlsruhe , Kempten, Leonberg , Ludwigsburg , Münsingen , Sindelfingen , Stuttgart , Ulm and Viernheim. The group employs around 270 people, it said in a statement Press release from the Pluta law firm from Munich, which looked after the insolvency proceedings in self-administration and provided information about them. The group is known for its large selection of jeans and other clothing from renowned brands.
However, in the recent past, according to the statement, the group has been confronted with several challenges – including declining sales since the corona pandemic, negative consumer sentiment due to high inflation and political uncertainty, as well as growing competition from online retail. “The costs, for example for energy, have risen sharply in the same period. This development affects the entire stationary fashion retail industry.” These factors have made clear the need for a realignment, the statement continues. Initial discussions have been held with important business partners. These were constructive, which represents good conditions for the realignment.
Yeans Halle is insolvent: This is what happens to the employees
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In order to position itself for the future, Trender Jeansmode GmbH & Co. KG applied for self-administration proceedings at the Stuttgart District Court and was approved on December 7, 2023. Attorney Steffen Beck from Pluta Rechtsanwalts GmbH supports the reorganization as restructuring manager and attorney Dr. Sebastian Mielke from the Menold Bezler law firm in Stuttgart was appointed as provisional administrator.
The process enables the company to manage its restructuring itself, under supervision and with professional support. According to the Pluta announcement, employees have already been informed about the current situation. Thanks to the pre-financing of insolvency money, their wages and salaries are secured for the next three months. Despite the realignment, business operations would remain unaffected and all branches would remain open to customers.
By the way: It’s not just clothing stores that are affected by the difficult economic situation. Also the Traditional children’s shoe manufacturer Ferdinand Richter is in trouble. The The most notable bankruptcies in the recent past were probably those of Galeria Karstadt Kaufhof and Real. Also Kaufland is drawing economic consequences from the current crisis and will close some branches in Germany next year.
2023-12-18 05:17:12
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