Peek & Cloppenburg is Examining Merger
The devastating consequences of the corona pandemic may be driving two warring German fashion groups into a peace treaty.
Peek & Cloppenburg branch in Stuttgart: The fashion retailers of the same name in Düsseldorf and Hamburg are exploring closer cooperation.
According to information from manager magazin, Peek & Cloppenburg Düsseldorf is exploring a deep cooperation with the sister company of the same name in Hamburg. The two separately managed family businesses are currently exploring a cooperation in purchasing. However, insiders do not rule out that the fashion retailer, founded in Hamburg in 1911, could be taken over by the ten-year-old sister in Düsseldorf.
With a turnover of around two billion euros and 117 branches, P&C Düsseldorf is much larger than P&C Hamburg, which generates around 500 million euros with 41 branches. In addition, P&C Hamburg is considered financially ailing. At the turn of the year, the fashion service provider Katag had not renewed a contract for the protection of the delivery of goods because the Bielefeld billion-dollar group considered the risk of payment default to be too great.
P&C Hamburg did not want to comment on the information, a spokesman for P&C Düsseldorf said: “Due to the effects of the corona pandemic on the retail industry, movements and concentration in the market are basically foreseeable or necessary.”
View this post on Instagram
Peek & Cloppenburg is Examining Merger - /10