Charles Vögele trusts Alexander Isola and Stefan Weileder with restructuring.
Due to the bankruptcy of its parent company, Charles Vögele (Austria) GmbH itself had to request the opening of restructuring proceedings. The Austria-wide fashion chain employs 711 people in 102 stores. As part of the restructuring proceedings, the rationalization measures initiated a few months ago in the interests of the company and thus of its employees will be finally implemented.
The decision to initiate restructuring proceedings served in particular to stay on track with the negotiations with prospective investors which had been required prior to the filing of the request due to the bankruptcy of the parent company. The creditors’ committee has unanimously approved of the liquidator accepting the binding offer of GA Europe.The restructuring plan was accepted by the overwhelming majority of creditors and adopted on 22 October 2018. The last building block for the successful restructuring was hence put in place which helped to safeguard around 70 branches and 450 workplaces.
