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Pic: Adler Modemärkte AG As a result of fresh closure of 169 of the 171 company stores until at least the end of January, Germany’s Adler Modemärkte AG recently resolved to file an application for the opening of insolvency proceedings in self-administration. Despite intensive efforts, the company was unable to close the liquidity gap caused by the pandemic-related drop in sales. In the first half of 2020, ADLER had still managed to cushion the first COVID-19-related lockdown, thanks to a then solid balance sheet structure and the securing of comprehensive financing commitments, it said in a press release.
Marks & Spencer has purchased the Jaeger brand from its administrators as part of a strategy to bolster its apparel division with new names. It is in the final stages of agreeing.
UK department store chain John Lewis has stopped d its international delivery service after a number of British retailers scrapped their shipping to the European Union (EU)..
British supermarket chain Marks & Spencer recently announced it will not use cotton from China s Xinjiang in its apparel in response to the latter s alleged treatment of its.