Originally it was said that only 79 branches of the ailing fashion chain Orsay would close in Germany. It then became known from real estate circles that apparently all German locations of Orsay GmbH had terminated their rental contracts by July 1, 2022. Orsay has not yet responded to FashionUnited’s request.
According to current media reports, the termination was only a precautionary measure. On the occasion of the closure of twelve Orsay branches in Berlin, the Berliner Zeitung wrote that company spokesman Wolfgang Weber-Thedy had confirmed to the newspaper that the continuation of all business in Germany was currently still open. The leases were terminated “as a precaution” if no new investor was found by then. Incidentally, this not only affects the rental contracts, but also the employment contracts of the around 800 employees in Germany. So far, no new investor is officially in sight. However, there are rumors: Gordon Brothers from Great Britain is said to be interested in the company, and a licensee from Orsay could also take over the chain in Germany.
The women’s wear chain Orsay, founded in the Black Forest in 1975, is part of the French Mulliez Group, which also owns the Pimkie brand and the Decathlon sports chain. Orsay is represented in a total of 34 countries and operates more than 700 stores there.
The German Orsay GmbH opened insolvency proceedings under self-administration in November last year. In the course of this, negotiations were held with many landlords about adjusting the shop rents. Where a sufficient rent reduction has not been achieved, the branches should close.