Germany's Insolvency Tsunami: Structural Breakdown Underway

Welt

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For decades, the Hamburg fashion brand has been successful far beyond the German market and has built its business on several pillars. However, the times in the industry have become rough – this now has consequences.

Spiegel

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Sarah Jessica Parker once walked over the cinema screen in a closed jeans. Nevertheless, the brand is not well today. Employees are said not to have been paid in part.

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The textile company Closed supplies its Sylt clientele and the Kitzbühel crowd with high-priced jeans and blazers. Now the German luxury brand is filing for bankruptcy. The likely victims of this tragedy: approximately 350 employees and prominent shareholders.