DGAP-Ad-hoc: Gerry Weber International AG / Key word(s): Insolvency
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
25-Jan-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Gerry Weber International AG|
|Phone:||+49 (0)5201 185-0|
|Fax:||+49 (0)5201 5857|
|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