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GERRY WEBER INTERNATIONAL AG (FRA:GWI1) Gerry Weber International AG applies for court order of preliminary insolvency proceedings under self-administration

Directive transparence : information réglementée

25/01/2019 13:18

DGAP-Ad-hoc: Gerry Weber International AG / Key word(s): Insolvency
Gerry Weber International AG applies for court order of preliminary insolvency proceedings under self-administration

25-Jan-2019 / 13:18 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Ad-hoc announcement pursuant to section 17 MAR

GERRY WEBER International AG applies for court order of preliminary insolvency proceedings under self-administration

(Halle/Westphalia, 25 January 2019) Today, GERRY WEBER International AG applied for the court order of preliminary insolvency proceedings under self-administration according to § 270 a InsO at the responsible local court Bielefeld, aiming at successfully restructuring the company through the ongoing restructuring program. The requested preliminary insolvency exclusively applies to the mother company GERRY WEBER International AG with about 580 employees; all subsidiaries including HALLHUBER are excluded from the request. Within the scope of the preliminary self-administration, business operations of GERRY WEBER International AG would be continued entirely at normal course. According to the current status, the continued financing of operations is safeguarded until the year 2020. The Managing Board would remain in office with all powers and responsibilities, ensuring operations. A decision by the local court on the opening of the preliminary insolvency proceedings is expected within today.

The application for the court order of preliminary insolvency proceedings under self-administration was triggered by failed negotiation talks of GERRY WEBER Group with its financing partners, aimed at guaranteeing group financing and setting it on a consistent and sustainable foundation.

The Managing Board

Notifying Person:
Florian Frank
Member of the Managing Board
Phone: +49 5201 185-140
ir@gerryweber.com


25-Jan-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Gerry Weber International AG
Neulehenstraße 8
33790 Halle/Westfalen
Germany
Phone: +49 (0)5201 185-0
Fax: +49 (0)5201 5857
E-mail: info@gerryweber.com
Internet: www.gerryweber-ag.de
ISIN: DE0003304101
WKN: 330410
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; SIX, Vienna Stock Exchange

 
End of Announcement DGAP News Service

769587  25-Jan-2019 CET/CEST

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