The traditional company has been around since 1948 and is now in the deepest crisis in its 70-year history.
Adler Modemärkte have to file for bankruptcy.
The company announced on Sunday evening that the aim is a self-administered procedure to reorganize the company. The business operations should be continued in full under the supervision of an administrator. The trigger for the application was “the considerable loss of sales due to the closure of almost all sales branches since mid-December 2020 as a result of the new COVID-19 lockdown”. So Corona is to blame! Despite intensive efforts, it was not possible to close the liquidity gap that had arisen by injecting capital from state support funds or from investors.
Adler is also known through Birgit Schrowange (62): the presenter has been a brand ambassador since 2010 and has regularly developed her own collections.
The last one didn’t hit the market until September. “The collection offers women of all ages and lifestyles an incomparable selection of fashionable classics and bold individual items that bring a breath of fresh air to your wardrobe and at the same time stand for style awareness,” the company describes the design. But apparently Adler couldn’t save that either …
This was the company’s finances last year: Adler Modemärkte AG, based near Aschaffenburg, reported a turnover of almost 500 million euros in 2019. As of September 30, 2020, the company had 3350 employees. In May 2020, Adler had received loans thanks to a government guarantee to get through the corona crisis.