Oh no! Popular German fashion company is broke & closes all branches
German fashion company broke
It has been a few months since it became known that the German fashion company Basler has to file for bankruptcy. At first it was said that they had not found an investor for further financing solutions, but would still negotiate with another strategic investor. A creditors' meeting had then decided on a temporary shutdown. The business should continue anyway, the planned autumn / winter collection would still be sold.
Basler must dismiss 1,100 employees
Now the Basler Fashion Group announced: The negotiations with the potential investor were unsuccessful, the business is therefore set in the near future. All 1,100 employees are already aware of the closure and would receive their redundancy in the coming days.
Incidentally, Basler also owns the St. Emile brand, which was recently acquired by the Basel fashion group. These stores are also affected by the closures.
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