Our focus is now clearly on our core business in bricks-and-mortar retail, and therefore on our stores. "We are sticking to our multibrand omnichannel strategy unchanged.
Due to developments on the cost side and a reluctance to buy that can also be observed here throughout the industry, the company's online strategy has to be reconsidered and adapted to the given circumstances. In the course of this, considerable investments in personnel, material resources and marketing amounting to a three-digit million sum were made. In order to take account of the change in purchasing behavior resulting from the COVID 19 pandemic, Peek & Cloppenburg KG, Düsseldorf had greatly expanded its online activities since 2021.
Online strategy did not deliver the expected results Nor did the mild winter provide any further incentive to buy. Supply bottlenecks, increased energy, wage and sourcing costs, rising interest rates and the slight recession further clouded the economic situation of Peek & Cloppenburg KG, Düsseldorf towards the end of last year. Steffen SchüllerIn addition, the consumers’ behavior continues to be very restrained due to the Ukraine war, which has been ongoing since February 2022. "The impact hit us hard and caused a three-digit million loss," said Steffen Schüller, managing director, Peek & Cloppenburg KG, Düsseldorf. In 20, the COVID 19 pandemic led to a massive slump in sales at Peek & Cloppenburg KG, Düsseldorf, which put a great strain on the company's liquidity. It remains authorized to issue instructions and take action. As a result of the present court order, the management of the company remains in the hands of the executive board during the restructuring process.
The protective shield is a court-ordered restructuring procedure under which the company will work out the measures required for restructuring and reorganization in a targeted manner under its own responsibility and implement them in the short term. Peek & Cloppenburg KG, Düsseldorf has launched protective shield proceedings in order to adapt to the changed market conditions in Germany and to reposition itself for the future. In addition to P&C, the group also includes the men's outfitter Anson's and Magasin du Nord. Peek & Cloppenburg, DüsseldorfToday, around 16,000 employees work for the group in 16 countries.
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