The corona crisis hits the fashion industry particularly hard. Now the German men’s fashion company Bäumler has filed for bankruptcy. It’s not the company’s first bankruptcy.
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The German men’s outfitter Bäumler is broke. The company, which runs under the name “Bäumler Fashion GmbH”, has filed for insolvency at the Ingolstadt district court.
The reason for the bankruptcy lies in the corona crisis. Sales have fallen sharply due to the pandemic.
The operation is currently still continued. “The customers will continue to be supplied from the existing inventory”, say the experts who deal with the restructuring of the company. “Our goal is to find a solution for the fashion company.”
The company in its current form was founded in 2009. The roots of the brand go back to 1934. The predecessor company was Bäumler AG, which shortly before went bankrupt. Bäumler AG equipped the German athletes for the opening and closing ceremonies of the 2008 Summer Olympics.