Madeleine, a clothes shop, is bankrupt. The management claims that the effects of inflation are still present. The liquidation has now started.
Madeleine, a Franconian mail-order clothing retailer, has declared bankruptcy. According to the corporation, the management on Monday requested a self-administration restructuring action at the Fürth district court. “Wirtschaftswoche” was informed by managing director Daniela Angerer that rising inflation has increased costs for the company and discouraged consumers from making purchases.
There will be no limits on business activities. According to the business, the pay of the about 230 employees are guaranteed for at least three months. With the addition of an investor, it is intended to wrap up the restructuring process in a few months, realign the brand, and digitize the business model. It is also feasible to include the brand and the sales mechanisms into the portfolio of a different fashion shop.
The legal team at Schultze & Braun is assisting the management with the restructuring and investor search. The experts have already represented Esprit and Bonita, two apparel businesses, in restructuring processes for their reorganizations.