The situation in the Austrian shoe industry is also tense. The largest shoe association in the neighboring country, Ringschuh Austria, is granting retailers a deferral of payment in a phase of tight liquidity.
In the period from March 31st to June 30th, member companies of the association can change the value of a decade statement that is due into an interest-free postponement with a term of 30 days, the management of Ringschuh Austria announced on Tuesday.
The deferral of payments is intended to help shoe retailers who are experiencing a liquidity squeeze due to rising interest rates. In addition, unusually early deliveries due to shoe manufacturers who are able to deliver again are a burden, which has led to high inventories.
shoe industry suffers
The association announced that the payment of the shoe manufacturers by Ringschuh would continue as before in the first condition within 10 days.
The shoe industry is currently in crisis in some European countries. Last fall, the Hamburg dealer Görtz filed for bankruptcy, followed by Klauser, Salamander and Reno. The branches of the cult luxury shoe retailer Shoeboaloo also had to close in the Netherlands in January.
