The Düsseldorf fashion retailer P&C wants to take over its competitor Sinn.
Peek & Cloppenburg submitted a corresponding application to the Federal Cartel Office on Wednesday to take over 100 percent of the shares in Sinn GmbH in Hagen. This is shown by a list from the authority updated on Friday.
A spokesman for Sinn’s insolvency administrator did not want to comment on the ongoing proceedings when asked. Just this much: After the insolvency plan has been submitted, the responsible court will convene a meeting of creditors at which potential offers will also be decided. That could take a few weeks, said the spokesman.
P&C makes an offer
P&C is said to have already made an offer to Sinn’s insolvency administrator, as the textile industry reported on Friday. Peek & Cloppenburg Düsseldorf confirmed the information to the trade magazine.
The companies P&C and Sinn have not yet responded to a request from FashionUnited.
Sense in bankruptcy
The Hagen-based multi-label fashion chain Sinn has been in traditional insolvency proceedings since December. Sinn previously filed for self-administration insolvency proceedings in August.
The fashion retailer Peek & Cloppenburg recently expanded in Eastern Europe and is also planning a new branch in Leipzig. In September 2023, P&C will emerge from bankruptcy after the fashion house has expanded significantly in the previous years – not least through takeovers such as that of the Danish department store chain Magasin du Nord.