The insolvent fashion manufacturer Gerry Weber has found an investor for its subsidiary Hallhuber.<\/p>\n
With bridge financing, Hallhuber’s business operations can be continued until further notice. At the end of January, the fashion group from Halle (Westphalia) filed for insolvency. The subsidiary Hallhuber is not affected by this application.<\/p>\n
The parent company reported in an ad hoc announcement that the financing for the subsidiary amounts to around 10 million euros. There was also a purchase option. Who the investor is is not known.<\/p>\n
If the investor withdraws the purchase option, Gerry Weber retains either 14 percent or twelve percent. But then the company has to pay a cash purchase price of 500,000 euros.<\/p>\n
However, the investor’s purchase option is linked to a number of conditions. Exact details will be announced in May.<\/p>\n
Hallhuber contributed to the losses of the parent company in January last year with unexpectedly high write-downs. In December 2014, Gerry Weber bought Hallhuber, a company specializing in high-priced women’s fashion. The Westphalian parent company had hoped that the purchase would expand its target group to younger buyers.<\/p>\n
But the plan did not work out. At the end of January, Gerry Weber International AG filed a petition for insolvency under its own administration with the local court in Bielefeld. The application initially only applied to the parent company, to which the Taifun and Samoon brands belong. Last Thursday, however, an application was also filed for Gerry Weber Retail GmbH. In total, more than 6,000 employees work for the fashion company. Hallhuber employs a further 2,000 people.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bridge financing secures business operations The insolvent fashion manufacturer Gerry Weber has found an investor for its subsidiary Hallhuber. With bridge financing, Hallhuber’s business operations can be continued until further notice. At the end of January, the fashion group from Halle (Westphalia) filed for insolvency. The subsidiary Hallhuber is not affected by this application. Investor<\/p>\n","protected":false},"author":2,"featured_media":608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[],"class_list":{"0":"post-606","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-supply-chain"},"yoast_head":"\n