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As Reno Switzerland announced on Sunday, it cannot be said how things will continue. “We now have to get a summary of everything,” Dieter Metz said in the statement. The search for investors was unsuccessful. Metz is managing director of finance at CM.Sports GmbH and has owned the Reno branches and online stores since October. He also owned the Vogele shoe chain, which went bankrupt last year.
The shoe retailer filed for bankruptcy in Germany at the end of March, and then Reno Austria also had to close its doors: 29 branches and 106 employees were affected. 2400 creditors were affected by bankruptcy. It’s about the demands of twelve million euros.
No delivery, no sale
In December, Metz told Blick: “Reno is not at risk of bankruptcy!” Employees of 17 branches of Reno Switzerland were already talking about possible bankruptcy. The business appears to be on shaky ground. The Austrian bankruptcy then brought further uncertainties.
According to the company, its Swiss branches faced the same problems in Germany and Austria. As a result of non-delivery, the shelves remained empty and there were no sales. Only bankruptcy remained due to changing consumer behavior, rising energy costs, inflation and the effects of the Ukraine war.
Reno operated a total of about 180 branches with about 1000 employees. (SDA/sf)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
