The corona crisis hit the retail sector particularly hard. For the second time, the shops in Germany are closed for weeks. The consequences can also be seen in the popular fashion chain Pimkie. To protect itself from bankruptcy, the company opened protective shield proceedings. Now one thing is certain: almost half of all stores close permanently!
Pimkie about to go bankrupt: Company files for bankruptcy
It became official in September 2020: In order to save Pimkie from bankruptcy in Germany, the company opened protective shield proceedings at the Offenburg District Court. This campaign naturally also affects the around 75 Pimkie branches and 350 employees that the French company Framode GmbH employs in Germany alone. While in the past few months one could only guess how the company would go on, it is now clear.
Pimkie rescue: almost half of the stores close
Framode GmbH, to which Pimkie belongs, is “on the verge of a successful renovation”. The insolvency plan, which has now been unanimously approved by the lenders, also includes the closure of almost half of all German stores. In an official press release, Patrik Mesa Raya, the authorized signatory and country sales manager of the fashion retailer, is optimistic: “As with many companies in our industry, the corona pandemic has hit pimkie all over Europe. The restructuring now enables us in Germany to stay present with over forty stores. After the renovation, the majority of the German branches can continue and the jobs there can be preserved, ”said a press release.
This is behind the popular Pimkie brand
Cool fashion for young women between the ages of 16 and 22 and that at low prices with good quality – that is the concept behind the Pimkie brand. And so far, the company has actually become a serious competitor for H&M, Zara and Co., who was fighting for market share. But the lockdown leaves its mark …
Other companies were also hard hit by the Corona crisis: