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Well-known fashion brand before the end? 300 branches before the sale

Well-known fashion brand before the end?  300 branches before the sale
Written by insideindyhomes

After Staples and Hussel, a fashion brand is said to be bankrupt. Several branches are therefore threatened with closure.

Germany – The corona pandemic seems to continue to affect some companies. This was the case recently with Staples, an office supplies business, where several branches are now being closed due to insolvency. Now a fashion brand that is also popular in Germany is said to be on the verge of extinction, as RUHR24 reports.

company pimkie
CEO Philippe Favre (Jan 2022–)
Headquarters Villeneuve d’Ascq, France
founding 1971
founder Gerard Mulliez
umbrella organization Association Familiale Mulliez

Fashion brand bankrupt again: Looking for new investors for Pimkie

Dresses, skirts, jeans and tops – the selection of clothing is no longer just huge in the local shops. At least since the Corona pandemic, people have been shopping online in particular. For companies, however, this means ever-increasing competition. According to the portal t-online the French fashion brand Pimkie is said to be up for sale. Accordingly, the Mulliez family company is now urgently looking for investors.

The focus is on 300 Pimkie stores. However, these should all be located in France. Customers and employees in Germany can therefore take a deep breath for the time being – things are different for around 1,500 employees in neighboring France. According to the current status (May 24, 2022), it is still uncertain how things will continue for them. In 2020, the company is said to have had a turnover of 200 million euros.

According to the specialist magazine, the company was also in Germany textile industry already before the end. In 2020, 40 of the 75 Framode GmbH Pimkie stores had to be closed. A total of 150 employees are said to have lost their jobs as a result. The company was saved in this country by a so-called “insolvency and protective shield procedure”, through which Pimkie was able to rebuild itself, especially in the area of ​​online shopping.

Pimkie: Insolvency for fashion brand in Germany as early as 2020 – numerous branches had to close

A restructuring plan and rent reductions were also decisive for the reestablishment of the Pimkie brand in Germany. “Without the sometimes painful adjustments to the location rents, the continued existence of Pimkie in Germany would undoubtedly have been in question,” the portal quoted Business Insider in January 2021 the then COO of the Pimkie Group, Patrick von der Linden.

The French company has been around since 1971 and has been popular with young women for many years. In the meantime, in addition to the corona pandemic, the competition and the shift towards online shopping also play an important role in the whereabouts of the Pimkie brand. One of the biggest competitors is said to be the Irish fashion brand Primark, which scores particularly well with the young target group thanks to its low prices.

A Pimkie store on Kurfürstendamm in Berlin 2019.

© imago images/Schöning

Closures in the inner cities – also on Westenhellweg in Dortmund

Since the corona pandemic, online shopping has experienced a real boom – to the detriment of the branches. Because more and more shops in NRW and other federal states have to be closed because customers stay away. Traditional companies, such as the confectionery retailer Hussel, are already feeling the effects.

The Saturn and Mediamarkt electronics markets, which are popular with technology fans, are also affected by the closures due to the corona pandemic. In many inner cities of Germany there are therefore more and more vacant shops where new tenants are being sought, such as on Westenhellweg in Dortmund.

List of rubrics: © Daniel Bockwoldt/dpa

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