Insolvency news and archive

Fresh start with 36 stores: Pepco Germany ends insolvency proceedings

Last summer, the German subsidiary of retailer Pepco NV filed for insolvency. Following a comprehensive restructuring that included significant cuts to its store network, the discounter is now set for a fresh start in the country. The self-administered insolvency proceedings for Pepco Germany GmbH, which began on October 1, will end on February...

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Retail insolvencies signal a sector still on shaky ground

The fashion industry is no stranger to disruption, but the latest insolvency figures underline a worrying truth: retailers are still operating on borrowed time. While the month-on-month drop in retail insolvencies from 177 in October 2025 to 158 in November 2025 may offer a momentary sigh of relief, the broader trend is far less comforting....

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Next takes over Russell & Bromley brand in strategic deal

The future of the venerable British footwear retailer Russell & Bromley has been secured following a strategic acquisition by retail giant Next plc. Under the terms of the agreement, Next has acquired the Russell & Bromley brand name and associated intellectual property for a sum of 2.5 million pounds (3.35 million dollars), with an additional...

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German womenswear brand Les Lunes is insolvent

Sustainably-focused womenswear brand Les Lunes is insolvent. Les Lunes GmbH has filed for self-administration proceedings at the relevant district court in Charlottenburg, the Berlin-based company announced on Friday. The application has been accepted and the preliminary self-administration confirmed. Lawyer Torsten Martini from the law firm Gö...

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Pepco to close 28 stores in Germany

Following the insolvency filing of the discounter Pepco's German subsidiary in July, the restructuring plan for Pepco Germany GmbH was presented on Tuesday. The plan involves significant cuts to its store network. Pepco Germany to close 28 stores In recent weeks, the management has undertaken “an extensive analysis of the store network in...

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Streetwear e-tailer Defshop files for insolvency

Berlin-based clothing retailer Defshop GmbH is insolvent. This was announced in a statement published on Thursday by Brinkmann & Partner (B&P), a business law firm specialising in restructuring solutions. According to the statement, lawyer Jan Markus Plathner of B&P was appointed as the provisional insolvency administrator for Defshop by the...

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Dieter Holzer appointed new CEO of Closed following acquisition

It was announced a few days ago that the insolvent Hamburg-based fashion company Closed has found new owners. During a press conference on Monday, the parties involved revealed initial details about the brand's future. The purchase price, however, was not disclosed. Dieter Holzer will take over the management of the company as CEO and...

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Successful investor search: insolvent fashion brand Closed has new owners

The insolvent German fashion brand Closed has been saved for now. On Thursday, the company announced the successful conclusion of its investor search, which began almost two months ago. The new owners of Closed are the Böck entrepreneurial family and experienced fashion manager Dieter Holzer. The Böck family owns the clothing company Marc O’Polo...

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Retail insolvencies ease in June, but fashion sector remains on edge

The latest UK insolvency statistics offer a brief respite for retailers, though underlying pressures suggest the industry is far from out of danger. Company insolvencies in the retail trade fell to 169 in June 2025, a 12 per cent drop from May’s 192 cases and 17 per cent lower than the 203 recorded in June 2024, according to official data. For...

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Blanche Copenhagen faces closure after insolvency

Danish womenswear brand Blanche Copenhagen appears to be on the brink of closure. After the company had to file for insolvency in June, the journey has come to an end for Bjørn Krøyer. Krøyer joined as an investor two years ago and then took over the management of the company. The CEO announced the closure on Thursday on the career network...

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Pepco Germany enters self-administration proceedings

The German subsidiary of the discounter Pepco Group is insolvent. Pepco Germany GmbH filed for self-administration proceedings on July 21 with the Berlin-Charlottenburg Local Court, the retailer announced on Wednesday. The court then ordered provisional self-administration, the so-called protective shield proceedings, and appointed Gordon Geiser...

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UK retail insolvencies surge amid tax burden and weak consumer confidence

The UK's retail sector is showing signs of distress, with company insolvencies in the trade rising sharply for the second consecutive month. According to figures released this week, retail trade insolvencies climbed to 192 in May 2025, a 16 percent increase from April’s 165 cases, and 20 percent higher than the 160 recorded in May 2024. While...