P&C Düsseldorf restarts after insolvency - Renovation completed:
During the pandemic, the fashion retailer Peek & Cloppenburg Düsseldorf received state aid ...
rp-online.de/wirtschaft/unternehmen/pundc-duesseldorf-startet-nach-insolvenz-neu-sanierung-abgeschlossen_aid-98576191
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P&C Düsseldorf Expects End of Self-AdministrationThe court is expected to end the process launched in March on October 1; creditors had already approved the insolvency plan in August.
Key FactsSep 29, 2023 · Reading time: ~45 sec.
Summary created with AI assistance · Source: rp-online.de
Summary created with AI assistance · Source: rp-online.de
- According to the company, the responsible court is expected to end the self-administration process, which has been running since March, on October 1.
- Earlier information indicated that 350 jobs at the 1,500-person Düsseldorf headquarters were slated for elimination, while about 6,000 employees at 67 German stores were to be spared.
- The insolvency plan approved by creditors in August provided for investments, and the creditors may also have waived claims.
- Once the process is complete, P&C Düsseldorf intends to return its full focus to regular operations and further develop its product ranges, stores and online shops through internal initiatives.
The goal is to strengthen our presence as a multi-brand retailer in city centers and online again.— Thomas Freude, Managing Director of P&C Düsseldorf, said this in the context of the restart after insolvency.
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P&C Düsseldorf schließt Sanierungsverfahren ab: Neustart nach Insolvenz: Die Sanierung von Peek & Cloppenburg KG Düsseldorf (P&C) steht vor dem Abschluss ...
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Mar 3, 2023 · Reading time: ~45 sec.
Summary created with AI assistance · Source: haz.de
Summary created with AI assistance · Source: haz.de
- The Düsseldorf-based Peek & Cloppenburg initiated a protective shield procedure, but the Hannover location belongs to a separate entity.
- The Kröpcke site in Hannover remains financially unaffected by the insolvency declared in Düsseldorf.
- Renovations are planned for the Hannover store to update and improve its retail space.
- Economic separation between the branches results in differing impacts on their operations.
We are investing— Peek & Cloppenburg (corporate statement about planned renovation at the Hannover store in the context of the liquidity squeeze at the Düsseldorf house)
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