“We are absolutely legally authorized,” Christian Müller, Chairman of the Managing Board of Karl Vögele AG, told the media in the summer. “We want to put Vögele Shoes on a commercially and economically sustainable footing by spring 2023, albeit in a much smaller format,” Müller told Blick in mid-October.
The reason for the doubts about the German statements: the temporary debt restructuring moratorium in June. What it means: The wobble company that owns the shoe chain Vögele Shoes – in German hands since 2021 – has been out of business for about four months. The purpose of this court-approved measure is to help companies with financial problems get back on track.
Only 28 branches left
Apparently without success. Out of over 200 branches, only 28 remain. The latter is now available, as one Vögele marketer* announced to Blick. According to the woman, who did not want to be named, all employees at the remaining branches were informed on Tuesday that Vögele Shoes has definitively ended. Oral. “We should all get written notice of termination tomorrow, Wednesday,” says the marketer, who most recently took a salary for the shoe chain for 26 years as a branch manager.
Karl Vögele AG has confirmed the end of Blick. “Vögele Shoes will cease operations at the end of the year,” says Christian Müller on request. Things have not progressed as planned since the debt restructuring moratorium began, and discussions with potential investors have not had the desired success. “This hurts so much and I regret it so much,” continues Müller.
131 employees are affected by this decision. HR managers and unions keep in touch with management and those affected.
“Today is a sad day for all of us, as well as for the traditional brand Vögele Shoes, which we all still believe in,” says Müller.
Negotiations are currently underway with partners and suppliers “to organize the processing of locations and inventories by the end of the year”. Vögele Shoes will be completely ceased to operate.»
Postponed by promises made
German Cm.shoes GmbH and Munich financial investor GA Europe took over Vögele Shoes in the middle of last year. At the time, the goal was to financially stabilize the 116 shoe stores so that as many jobs as possible are preserved. According to the Vögele marketer, promises were made to the remaining staff that they would not resign and that the remaining branches could continue to operate.
Outstanding: It’s not been long since the Vogele Shoes branch opened with great fanfare at Davos GR. Now it’s over. At the end of the year, the shops will surely close. The sale of goods has already begun, of course you still want to take the Christmas discounts with you.
Especially bitter: In 2022, Vögele Shoes will celebrate its 100th anniversary. The origins of the company go back to 1922. At that time, Karl Vögele opened a shoe shop in Uznach SG. Karl Vögele AG was founded 38 years later. In 2015 the family business first sold its shares to Austria, then a Polish trading group bought the majority and finally in 2021 the traditional St. Gallen company was sold to Germany. Now with a known ending.
*Name known to editors