Corona aktuell: Another popular fashion chain is falling victim to the crisis

Corona current
Popular fashion chain Promod is about to end

© Wayne0216 / shutterstock

Sad news for all fans of the well-known French fashion chain: Promod will not survive the corona crisis as we know it. All branches in Germany will be closed until the end of February.

The French fashion chain Promod was on the verge of bankruptcy: The Cologne District Court had already initiated insolvency proceedings against the group in 2016. But to this day the brand has remained a popular shopping destination for many women alongside Zara, H&M and Mango and was represented in numerous inner cities. However, Promod no longer seems to be able to survive the corona crisis. After Adler and Pimkie, the French fashion retailer has now announced that it will close its branches in Germany. The bankruptcy proceedings have been running since September.

Corona lockdown in winter was like a fatal blow

In the spring of last year, the group lost all sales due to a pandemic and lockdown. The short period of opening in the summer could not make up for the negative business. The renewed forced closure in January and December finally gave the fashion house in this country the rest. All branches are to be closed by the end of February.

"Despite the basic potential of the 32 branches that were initially still in existence and the ongoing support from the French parent company PROMOD SAS at the beginning of the pandemic, the necessary restructuring was not financially feasible due to the lack of predictable prospects," the media quote from the insolvency administrator Marco Kuhlmann. Alternative continuation concepts or a concession with the branch rental by the landlord could no longer have guaranteed economic stability.

Online shop is being expanded

Perhaps a little consolation for Pomod fans: the brand will continue to exist as an online shop. As the German Promod boss Andreas Lobmeyr announced, the online offer is to be expanded, but the business will be managed by the French parent company. However, this does not help the employees who were employed in a Promod branch.

Sources used: RTL, ntv

LL