The shoe company Ara is sending its two retail subsidiaries Salamander and Klauser into bankruptcy, as reported by “WirtschaftsWoche”. In a protective shield procedure, the two companies are now to be restructured.
The reason for the bankruptcy is therefore lower sales as a result of the corona pandemic and the war in Ukraine. Because of inflation, consumers are more reluctant to make purchasing decisions. Both companies are also struggling with rising energy costs.
A total of 93 branches with around 950 full-time employees are affected by the insolvency. Wages are secured for January and February. It is not yet known whether employees will be laid off afterwards.
Ara emphasizes that only Salamander’s retail business is affected by the protective shield procedure. This does not apply to the Salamander brand and the Lurchi children’s shoe brand.
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The original of this article “German traditional shoe retailers Salamander and Klauser have to go bankrupt” comes from chip.de.