Troubled womenswear giant Gerry Weber said late Monday that it has reached “a milestone for securing the company's future,” with a new deal under which it will be fully taken over and existing shareholders will exit.
Gerry Weber International, the parent company of German clothing brands including Gerry Weber and Hallhuber, has filed for insolvency in Bielefeld’s bankruptcy court in a bid to restructure the business.
Gerry Weber wants to boost its turnaround with the debut of a new brand. Gr8tful is a digital-only label offering premium womenswear with its launch this month inviting customers to a “relaxed online shopping” experience
Is Gerry Weber about to turn a corner? The company that has been struggling with weak results saw core nine-month sales dropping just 2.9% it said Thursday, which isn’t bad in the context of earlier results.
News last week that Gerry Weber Group executive Norbert Steinke was stepping down from the management board has been followed up with an announcement that he is also quitting as Hallhuber managing director.