Crisis in Hagen: Fashion chain Meaning remains - employees breathe up!

Crisis in Hagen: Fashion chain Meaning remains - employees breathe up!

The fashion chain Sinn from Hagen today, on April 28, 2025, filed for the fourth time. However, the decision of the creditor meeting in Hagen has made positive headlines: Isabella Goebel remains the owner of the company. In an environment that is increasingly shaped by bankruptcies, this result shows that despite all the challenges there are hope for around 1,500 employees.

The creditors have decided to maintain all locations of the company and continue to employ the employees. This is perceived as a relief for the fashion houses in Kleve and Goch, which act as important anchor tenants in the respective inner cities. The bankruptcy request was made in December 2022, and despite this tense situation, business operations in most meaning fashion houses continued successfully, which indicates a certain stability in a difficult market environment.

market competition and takeover attempts

The possibility of taking over by "Peek & Cloppenburg" failed, but two companies show interest in taking over the fashion chain. Although Peek & Cloppenburg pursued similar goals and wanted to take over all 34 branches and the headquarters in Hagen, the specific number of jobs obtained remained unclear. The creditors finally gave Isabella Goebel the contract, also due to the trademark rights to "meaning". This is a emphatic confirmation of your leadership qualities, although industry observers express doubt about your ability to turn without fresh capital.

Sinn is a traditional company that was founded in Cologne in 1850 and at times belonged to Quelle and Karstadt. The chain currently operates 34 branches, 22 of which are located in North Rhine-Westphalia. These branches are mainly located in medium -sized cities such as Kleve, Menden and Unna. The annual turnover of meaning is around 250 million euros, which indicates a significant market position.

uncertainties remain

Despite the positive output of the believer meeting, the uncertainty in the fashion industry remains great. In the German fashion market, bankruptcies rose by almost 25% in 2024, including significant large insolvencies, and the generation turn in the fashion industry remains characterized by challenges. The Creditreform insolvency association warns that 2024 could achieve a record level in corporate insolvencies. This situation also complicates established companies, such as meaning, future -oriented decisions.

The insolvency process against the background of the increasing number of bankruptcies in the industry shows that companies are increasingly suffering from the pressure of pandeme -related incisions and price pressure. Falling sales and a tense market are problems that continue to burden the industry. It is planned that a renovation plan should be submitted by before Christmas, which feeds the hopes of successfully overcoming this crisis.

summarized that Sinn plays an important role in a challenging environment for the employees and the locations concerned, but still faces numerous uncertainties that could influence the future development of the company.

The events of the past few months underline the challenges with which the fashion market is faced in German space. In view of the current situation, a close observation of developments in the design and sales business is of crucial importance.

While some fashion brands like Esprit in Germany are planning to close all of their 56 branches, meaning with the aim of preserving the identity and inheritance of the company. This decision not only marks another step into the future for Isabella Goebel and its employees, but also shows the unbroken will to continue the brand.