The series of bankruptcies in the textile trade continues. On Thursday, the Austrian creditor protection association KSV1870 announced that Vienna-based Rose Gesellschaft mbH had filed for bankruptcy.
The company operates the Jones clothing brand, which has 29 stores in Austria. Branches that are operated by franchisees or independent partner companies are therefore not affected by the bankruptcy.
According to KSV1870, the textile provider has applied for “restructuring proceedings without self-administration at the Vienna Commercial Court”. The proceedings have not yet been opened, but the association is “expecting a short-term decision from the insolvency court,” according to a statement.
The reasons for the insolvency were “in particular the after-effects of the corona pandemic, increased inflation, the energy crisis and rising personnel costs, which led to the application for the restructuring process,” explained the KSV1870. The clothing retailer therefore wants to continue its business operations and present a restructuring plan.