// Gerry Weber begins insolvency proceedings after financing talks breaks down
// 580 staff at risk
// Retailer assures it is safeguarded until at least 2020
Gerry Weber has applied for the court order of preliminary insolvency proceedings under self-administration after talks with its finance partners broke down.
The requested preliminary insolvency exclusively applies to the parent company Gerry Weber International AG, which employs around 580 staff and puts their jobs at risk.
The self-administration aspect of the proceedings means Gerry Webers managing board will remain in office with all powers and responsibilities, pending the courts approval.
Gerry Webers subsidiaries, including Hallhuber and Samoon, are exclud…
Read the full article at: https://www.retailgazette.co.uk/blog/2019/01/gerry-weber-begins-insolvency-proceedings-save-business/