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Berlin logistics group Zeitfracht is ready to take over Adler mode

Photo: Adler mode

Fashion retailer Adler Modemärkte AG is ready to be acquired by Berlin-based logistics company Zeitfracht, which has made a name for itself by acquiring a bankrupt company. Zeitfracht will provide urgently needed new capital to companies in Haibach near Aschaffenburg. Adlermode explained that the deal could take effect after the bankruptcy proceedings scheduled for early July begin.

The Adler fashion chain, which specializes in fashion for people in their 50s and above, filed for bankruptcy in January. This is due to the forced closure of the store during the pandemic and the resulting sluggish sales months.

Zeitfracht recently submitted an irrevocable takeover offer to the company, which has 172 branches in Germany, Austria, Switzerland and Luxembourg. “This offer is an opportunity for Adler to make a new start,” said CEO Thomas Flud, reportedly from the European fashion media.

The company does not disclose anything about the purchase price.
Shareholders should leave empty-handed according to the bankruptcy plan. Zeitfracht will be the sole owner due to capital injection. “Existing stock will probably be completely worthless,” he said in a press release.

Fiber2Fashion News Desk (DS)

Fashion retailer Adler Modemärkte AG is ready to be acquired by Berlin-based logistics company Zeitfracht. Zeitfracht will provide urgently needed new capital to companies in Haibach near Aschaffenburg. Adlermode explained that the deal could take effect after the bankruptcy proceedings scheduled for early July begin.



Berlin logistics group Zeitfracht is ready to take over Adler mode

Source link Berlin logistics group Zeitfracht is ready to take over Adler mode

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