The French subsidiary of the Swiss retail chain Tally Weijl was legally liquidated on November 2, 2023, as announced by the Paris Commercial Court. In advance, legal restructuring proceedings were opened against the company TW France Retail by the Paris Commercial Court in a ruling dated February 11, 2021, which was obviously unsuccessful. Tally Weijl currently operates 64 points of sale (39 branches and 25 partner stores) in France.
Despite the difficulties in France, the company was allowed to continue operating until February 2nd, the court ruled. This should give the company the chance to find investors. The deadline for submitting takeover offers was December 11th.
The reasons for the company’s difficulties are the significant decline in customer frequency in the stores, high inflation, growing foreign competition and the increasing importance of the second-hand market, according to the industry magazine FashionNetwork.
Tally Weijl’s Austrian subsidiary is also in financial difficulties. In July, the creditor protection association KSV1870 announced that restructuring proceedings without self-administration had been opened over the assets of Tally Weijl Austria GmbH. At this time, the company operated nine branches of its own and an online shop in Austria. The company also works with eleven franchise partners.
In Germany, a restructuring process was successfully completed in June 2021.