The creditors of the ailing Düsseldorf fashion retailer Peek & Cloppenburg support the restructuring course that the management initiated at the beginning of March.
The continuation of Peek & Cloppenburg KG, Düsseldorf and Peek & Cloppenburg Retail Buying GmbH & Co. KG was unanimously decided at the creditors’ meeting in front of the district court in Düsseldorf on Wednesday, the clothing retailer announced on Wednesday. Self-administration and the appointment of lawyer Horst Piepenburg, who was appointed by the court as administrator, were also confirmed.
“A further milestone has thus been reached in completing the proceedings of Peek & Cloppenburg KG, Düsseldorf and Peek & Cloppenburg Retail Buying GmbH & Co. KG before the end of the year,” said Dirk Andres, Managing Director of Restructuring.
The insolvency plan is now to be submitted to the court in the next few days, and the creditors are expected to vote on it at the end of August. According to the announcement, the plan provides for “extensive job security” and a location guarantee for the Peek & Cloppenburg Group in Düsseldorf. An investor agreement with the main shareholder as the basis for the restructuring plan has already been signed.
It was only announced last week that JC Switzerland Holding AG would like to support the insolvent fashion retailer in its reorganization and has submitted an offer as the main shareholder.