The Bundeskartellamt sees no objections to take over the insolvent clothing chain Sinn by fashion retailer Peek & Cloppenburg Düsseldorf. With this, P&C gets closer to a possible takeover, but in the end the assembly of the creditors has to decide on the future of meaning.
In mid -January, Peek & Cloppenburg had submitted an application for the Sinn GmbH to be taken over at the Federal Cartel Office on the company JC Switzerland Holding. This step was publicly confirmed the interest of P&C in Sinn for the first time.
Leading position of Peek & Cloppenburg
Peek & Cloppenburg operates 69 stores in Germany and meaning in Germany. “The merger would be in a number of cities in North Rhine-Westphalia and in the Rhine-Main area to competitively relevant overlaps in the field of women and especially the men’s Oberwelding, ”says the Federal Cartel Office on Monday. But after the examination, the Federal Office sees no objections to a merger of P&C and Sinn. Despite the nationwide leading position of Peek & Cloppenburg in the inpatient textile retail, consumers would have enough alternative opportunities: In addition to online stores, they could also dodge smaller multi-fire branders, branded gates and vertically integrated fashion chains, the Bundeskartellamt said.
The upcoming creditors’ meeting of the insolvent fashion retailer must also show whether there is a takeover at all. Then the creditors vote: Interior offers from interest: inside. However, according to a spokesman for the insolvency administrator, an appointment for this has not yet been determined. This could only determine the responsible court after the bankruptcy plan has been submitted.
However, there was delay in submitting the plan due to the need for coordination, but the spokesman should take place in the coming days. He emphasized that the renovation of meaning continues to run well, as well as the Christmas business. Overall, the spokesman counts that a believer meeting could be scheduled for March.
P&C strong in men’s upper clothing
“Peek & Cloppenburg has a leading position in the field of inpatient textile retail. This applies in particular to the area of men’s upper clothing, where P&C also works under the ‘Anson’s’ brand, ”said Federal Cartel Office President Andreas Mundt in the message.
By taking over meaning, P&C can expand its market share in some cities in which both fashion retailers operate locations, the Federal Office states. But people from small and medium -sized cities of these regions often went to neighboring metropolises such as Frankfurt, Cologne, Essen and Dortmund. The merger could also be released in the first phase of the exam in view of the competition with online retailers such as Zalando and the Otto Group.
≤emem> This post was updated at 12:07 p.m. on February 17, 2025 with further findings from the Federal Cartel Office.