Liquidation beckons for Neckermann online

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26 Sep, 2012 Updated Wed 26 Sep 2012 12:11 CEST
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Around 2,400 people working at bankrupt mail order business Neckermann were preparing to lose their jobs Wednesday, after insolvency administrators said they were going to liquidate the company.

Talks were still continuing with a potential investor, but for legal reasons, announced its liquidation would take place on Oct. 1, a statement issued Wednesday in Frankfurt said.

There is only enough insolvency money to pay the around 2,400 employees for September, so if the investment talks fail to bear fruit, they will be out of a job from the start of October.

Although Neckermann logistics, with 820 employees, has long been earmarked for closure, some hope had remained for other parts of the group.

The withdrawal of US investor Sun Capital from the company left it unable to pay wages, leaving employees to the care of the state labour office. It is now working to try to find alternative employment for them.

The only part of Neckermann to survive is the “Happy Size” brand, which sells plus-size clothes. It has been sold to the competitor firm Klingel, which has promised to retain as many of the 80 staff as possible.

DAPD/DPA/The Local/hc



2012/09/26 12:11

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