The fashion industry is in crisis. Galeria Karstadt Kaufhof, Peek
Matthias Reinel from the HWR insolvency administration in Würzburg recently told the industry magazine Textilwirtschaft that “despite intensive efforts, it was not possible to continue”. Accordingly, the company has lost its appeal due to the renewed insolvency proceedings. In addition, the current market environment is extremely difficult for retailers.
Zapata will therefore have to close its last four remaining locations in Passau, Augsburg, Neu-Ulm and Würzburg. The online shop can no longer be reached. Around 30 employees are affected by the branch closures of the Würzburg fashion chain.
The financial difficulties of the company founded in 1985, which offers “urban wear”, had already begun a few years ago. In 2016, Zapata filed for bankruptcy for the first time. 14 branches became 9, before the number shrank further to currently 4. The annual turnover was recently at five to six million euros.
Numerous other fashion companies are in a similar situation to Zapata. The men’s fashion manufacturer Ahlers, for example, announced at the end of April that it would file for insolvency for Ahlers AG and seven subsidiaries due to impending insolvency. A few days earlier, the fashion chain Gerry Weber had filed an application for a so-called stabilization and restructuring procedure. The company finally announced a reduction in its branch network and job cuts. The fashion chain Orsay closed all its branches in Germany last summer and laid off its approximately 1,200 employees.
The department store group Galeria Karstadt Kaufhof and the fashion retailer Peek
Sources: “Textile Industry”, with material from the dpa
