
Clothing giant is bankrupt for the second time. A well-known chain of multi-brand fashion houses, whose origins date back to 1850 year, has to announce bankruptcy due to insolvency. There are 1500 jobs at risk. Or will find a willing takeover, or will will liquidate the company.
- In August 2024 year the Sinn company announced bankruptcy with self management over its assets.
- Taking over Sin is interested in the chain of clothing stores Peek & Cloppenburg from Düsseldorf.
- Peek &
Cloppenburg completed its own restructuring in 2023 year.
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announced fall after over 200 years. Final liquidation
Sinn announces bankruptcy with self management
Trade retail experienced in 2024 year some spectacular bankruptcies. The most recognized was the disappearance of the chain of Sinn GmbH from Hagen in the western part of Germany. The beginnings of the brand date to 1850 . Opened at then in Cologne a small pastry, which became the precursor of the later network of fashion Sinn with headquarters in Cologne. On January 1 1997 year in a merger with Leffers the company SinnLeffers AG was formed, having 46 stores with a total sales area of about 255 tysq. sq.m.
In September 2016 the company SinnLeffers GmbH announced bankruptcy. The proceedings were removed in July 2017 year, after the creditors approved the restructuring plan. June 20 2018 year the company SinnLeffers changed its name to Sinn GmbH (correct spelling in the documents SiNN GmbH ), with its location in Hagen.
In August 2024 year the Sinn GmbH applied for insolvency with self management of its assets. Since this time has continued business activities in about 40 clothing stores in all Germany. Gathering of believers is to be held in March 2025 year.
P&Cwants to acquire the insolvent multimarket network Sinn
The condition for acquiring the insolvent network is the consent of creditors and Federal Office for cartels. From industry information it appears, that the continuation of the company’s activities is interested in managing director Izabela Göbel. There is also an offer from Peek & Cloppenburg from Düsseldorf. which completed its own restructuring proceedings in the autumn of 2023 year. The clothing retailer, which also owns the Anson network, has 160 locations in 16 countries, of which half function in Germany. In the whole world employed are 16 thousand people.
The company was established in 1869 in Rotterdam. Impetu development has acquired however after the business moved to Germany. Today the network is managed by two independent companies: Peek & Cloppenburg KG Düsseldorf (known as P&C West) and Peek & Cloppenburg KG Hamburg (known as P&C North). In addition to Holland and Germany, the brand also operates in Austria, Croatia, Czech Republic, in Hungary, Lithuania, Latvia,Slovakia,inRomania,SerbiaandSlovenia.InPolandit has12stores.
As late asin2023thecompanyPeek&Cloppenburgitsselfstruggledwithfinancialdifficulties,nowwantsto catchaninsolventcompetitor-commentsmedia. Theplanistocontinuetheoperationsof thetakenovernetworkundertheformerbrandSinn.
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