Hamburg/Regensburg: Modemark Declares Bankruptcy Filing
Hamburg-Based Fashion Brand Closed Seeks Investors Amid Insolvency Proceedings
The Hamburg-based fashion brand Closed, known for its timeless and sustainable designs, has filed for insolvency due to excessive debt and high financing costs. In a bid to secure its future, the company has initiated a search for investors, with initial talks described as promising.
Stefan Denkhaus, the provisional insolvency administrator, and the managing partners Gordon Giers and Til Nadler express confidence that an investor will be found, ensuring the brand's continued presence in Hamburg.
While the identities of the potential investors remain undisclosed, it is known that active discussions are underway with the goal of a swift investor process to stabilize and continue business operations unchanged.
Closed, which sells fashion online and through retailers, operates stores in Germany, Austria, Belgium, the Netherlands, Spain, and Switzerland. The exact locations of its stores abroad, other than those mentioned, have not been specified.
The brand continues to operate during the insolvency proceedings, with stores and online sales running as usual. However, no information about the potential impact on Closed's operations was provided in the statement.
The number of stores operated by Closed, including those abroad, is not specified. According to the brand's website, there are 26 stores in Germany alone.
Several media outlets have previously reported about the initial discussions with potential investors for Closed. Despite the confidential nature of these talks, the discussions with potential investors for Closed have been confirmed in a statement.
As the search for investors continues, the future of this iconic German fashion brand hangs in the balance. The hope is that a suitable investor will be found to ensure the continued success of Closed and its commitment to sustainable fashion.
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- The company, seeking to secure its future amid insolvency proceedings, is actively engaging in talks with potential investors in other finance sectors.
- In order to ensure the continued presence of Closed in Hamburg and sustained success in its business operations, discussions with potential investors in diverse areas of finance are ongoing.
