The shoe retail chain Reno has also filed for bankruptcy in Switzerland. It is unclear what will become of the 65 employees and the 16 branches. The step of the Swiss offshoot followed the parent company in Germany and the subsidiary in Austria.
How things will continue cannot be said, as Reno Switzerland announced on Sunday. “Now we have to get an overview of everything,” Dieter Metz, the company’s CFO, was quoted in the communiqué. The search for investors was unsuccessful.
Deliveries failed
The Swiss branches were caught up with the same problems as in Germany and Austria. As a result of non-deliveries, the shelves were empty and there was no sales. Due to changed consumer behavior, rising energy costs, inflation and the effects of the Ukraine war, only bankruptcy remained.
The parent company in Germany had already initiated insolvency proceedings at the end of March, just six months after a change of ownership. The branches in Switzerland and Austria were initially not affected. Reno operated around 180 stores with around 1,000 employees.
2023-04-30 14:30:37
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