The German daughter of the discounter Pepco Group is insolvent.
On July 21, Pepco Germany GmbH applied for its own management proceedings at the Berlin-Charlottenburg District Court, the retailer said on Wednesday. The court then ordered the preliminary self -administration – the so -called protective shield procedure – and appointed Gordon Geiser from the Berlin law firm Greenberg travering as a provisional administrator.
Pepco wants to re -establish a branch network in Germany
In Germany, Pepco runs 64 stores, which are mainly in the east of the country. These remain open during the procedure and are supplied with the latest collections.
After the market entry in 2022, the branch network had to overcome numerous challenges. It currently operates with a deficit, according to the message. The aim is now to realign Pepco in the German market and to set up long -term success. As a partner, the Pepco Group has already declared its willingness to support the renovation process and ensure its financing.
The existing management also receives support from Christian Stoffler from the Munich law firm Gerloff Liebler Lobe lawyers, who takes on the role of the renovation manager. He has many years of experience in fashion and trade.
“In the past 20 years, the Pepco Group has proven that it is successful with its trade concept and product range in Europe,” said Stoffler. “That is why we also see good chances of realizing the branch network in Germany so that it can also develop successfully in the difficult German retail market. The protective shield procedure gives us the opportunity to implement the necessary measures quickly.”