Just a few months after its IPO, the clothing manufacturer Steilmann reported insolvent. Restoration negotiations were not successful, the Board of Steilmann SE will immediately ask the bankruptcy petition, it said in the compulsory release from the company. The company was not immediately be reached for inquiries.
Steilmann employs more than 8300 employees and had gone until November 2015 the stock market – with little success. Originally the company was thereby taking almost 100 million euros over the IPO to finance planned growth and to take over the majority in the listed fashion retailer Adler.Have you ever stood Steilmann verge of bankruptcy
However, the demand for Steilmann shares was weak and CEO Michele Puller had to settle for 8.8 million euros. He pulled the listing by nevertheless in order to maintain “strategic options” open. Following the bankruptcy announcement, the price of Steilmann shares tumbled in after-hours trading in a first reaction by a third one.
In mid-December had both Steilmann as well Adler conceded their forecasts and reasoned that the weak business due to the mild winter weather. 2014 continued the Steilmann SE with 8,300 employees in 18 countries around EUR 900 million to
About ten years ago the traditional company from Bochum already threatened bankruptcy -. Ute Steilmann announced then on, both for the parent company as well as for subsidiaries to provide insolvency applications. This could be prevented by the Italian investor Miro Radici, who took over the group of 2006.
To the founded in 1958 company, which focuses on the age group over 45 years, include the brands Apanage and Kapalua and Boecker fashion houses. In addition, the listed fashion retailer Adler is one of them, together with the Investor Equinox owns the majority of the Steilmann.
No comments:
Post a Comment