GERRY WEBER INTERNATIONAL AG (FRA:GWI1) Gerry Weber International AG enters into preliminary insolvency proceedings under self-administration

Directive transparence : information réglementée

25/01/2019 15:29

DGAP-Ad-hoc: Gerry Weber International AG / Key word(s): Insolvency
Gerry Weber International AG enters into preliminary insolvency proceedings under self-administration

25-Jan-2019 / 15:29 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 enters into 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 application was approved by the local court Bielefeld. The preliminary insolvency exclusively applies to the mother company GERRY WEBER International AG with about 580 employees; all subsidiaries including HALLHUBER are excluded from the proceedings. Within the scope of the preliminary self-administration, business operations of GERRY WEBER International AG are continued entirely at normal course. According to the current status, the continued financing of operations is safeguarded until the year 2020. The Managing Board remains in office with all powers and responsibilities, ensuring operations. For support, the Managing Board consults the insolvency law experienced and in the fashion industry very well-versed self-administrator and reorganization expert Christian Gerloff, Gerloff Liebler Rechtsanwälte. In the function of a General Representative, he will coordinate in particular with regard to procedural and insolvency law issues. The local court has appointed lawyer Stefan Meyer, PLUTA Rechtsanwalts GmbH, a restructuring expert with experience in both the industry and insolvency law as provisional trustee (Sachwalter).

The Managing Board

Notifying Person:
Florian Frank
Member of the Managing Board
Phone: +49 5201 185-140

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Language: English
Company: Gerry Weber International AG
Neulehenstraße 8
33790 Halle/Westfalen
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

769681  25-Jan-2019 CET/CEST