Now the fashion chain store Yeans Halle has also gotten into trouble: Trender Jeansmode GmbH Co. KG from Sindelfingen and twelve operating subsidiaries applied for self-administration proceedings at the Stuttgart district court on December 6th.
The court subsequently granted the request on December 7th and ordered temporary self-administration of the group’s assets. Attorney Steffen Beck from Pluta Rechtsanwalts GmbH was appointed as restructuring manager, attorney Dr. Sebastian Mielke from the Menold Bezler law firm in Stuttgart was appointed as provisional administrator who will accompany the proceedings in the interests of the creditors.
Business operations will continue
The company, founded in 1977, is to be continued in full despite the application. All branches remain open. The salaries of around 270 employees are secured for the next three months and should be paid out as usual. Shareholder and managing director Horst Mühlberger explains: “The situation is not easy at the moment. The application was submitted in order to take advantage of the possibilities of the restructuring process and to position our group for the future. The employees pull together with us. I am very pleased.”
Trender Jeansmode GmbH & Co. KG is the parent company of the fashion chain Yeans Halle, which operates a total of 18 branches in southwest Germany, including in Amtzell, Augsburg, Karlsruhe, Kempten, Leonberg, Ludwigsburg, Münsingen, Sindelfingen, Stuttgart, Ulm and Viernheim.
The 270 employees are spread across the Jeans Halle Group with the central purchasing and service company Trender Jeansmode GmbH & Co. KG as well as the twelve other operating branch companies. There is currently no information about possible branch closures. However, the company is already announcing initial measures on its website. In July 2023, after 46 years, Yeans Halle closed the oldest Yeans Halle branch on Tübinger Straße in Stuttgart. The clearance sale of the Yeans Hall in the Forum Mittelrhein in Koblenz is still running until January 6th, 2024 and the Yeans Hall in the Stadtgalerie in Heilbronn is also closing.
The law firm Pluta cites the declining sales since the Corona pandemic as the reasons for the financial distress, due to negative consumer sentiment, high inflation, the political situation and growing competition from online trading. At the same time, costs, for example for energy, rose sharply over the same period.