The future of the insolvent clothing chain Sinn could be clarified this month.
After the fashion retailer Peek & Cloppenburg Düsseldorf expressed his interest in a takeover in January and the Federal Cartel Office approved the planned transaction in February, the decision is now in the hands of the creditors: inside. A corresponding meeting is scheduled for April 28, as P&C confirmed at the request of Fashionunited. Previously, the industry medium had reported textile industry on the upcoming decision.
Around two years after his own bankruptcy, P&C could face one of the most important acquisitions in the German fashion trade. Due to the takeover, the company would expand its market share in several cities in which both dealers are already represented. According to the current status, Sinn GmbH should remain largely unchanged and continue to appear on the market under the Sinn brand.
Despite the nationwide leading position of Peek & Cloppenburg in the stationary textile retail, the Federal Cartel Office did not see any reason for objections. Consumers: There would be sufficient alternatives even after a takeover-in addition to online trading, smaller multi-fire stores, branded branches and vertically integrated fashion chains, according to the authority in February.
At the same time, Dirk Boventer, partner and director as well as head of the Solution Group consumer goods and trade at the Munich management consultancy ATREUS, emphasizes the considerable risks of such a takeover. The economic situation of P&C is not yet sustainable despite the restructuring.
In addition, the business model of Sinn also considered to be susceptible. The current bankruptcy has already been the fourth in the past 20 years and the second within only four years. Despite the tense location, the Hagen retailer opened a new fashion house in Brühl in Rhineland in October last year and also planned another branch in Bad Kreuznach.
Since the end of its own bankruptcy in September 2023, P&C has been pursuing a consistent expansion strategy, most recently increased in Eastern Europe. The company had already expanded significantly before – among other things by taking over the Danish department store chain Magasin du Nord in 2021.
It will be decided at the end of April whether it will actually be taken over.