Joint press release of
- Betty Barclay Group, GF Robert Küper
- Bogner GmbH, GF Heinz Hackl
- Brax GmbH, GF Stefan Brandmann
- CBR Group, GF Jim Nowak
- Falke GmbH, Franz-Peter Falke, Paul Falke
- Fuchs & Schmitt, GF Andrea Krumme
- KATAG AG, GF Daniel Terberger
- Marc Cain GmbH, GF Frank Rheinboldt
- MARC O’POLO AG, CEO Dieter Holzer
- Mey GmbH, GF Matthias Mey
- Olymp/Bezner GmbH, GF Mark Bezner
- Opus GmbH, GF Stefan Leewe
- S.Oliver Group, GF Claus Dietrich Lahrs
on the threat to the German retail trade, the German textile industry and German city centres
Many thousands of companies and thousands of employees are affected. Trade and industry are pushing for quick help from Berlin.
The government’s announced support through KfW loans will not reach many companies or will reach them too late.
“Even with the KfW loans, a residual risk of 10% remains with the banks. Due to the sheer volume, but also due to the risk profile of the trade, the banks are unlikely to be in a position to confirm all necessary approvals in a timely manner. At the same time, industry and trade are suffering from the total loss of an entire spring/summer season. That we need a solution for the continued existence of the retail trade and industry is the unanimous opinion of the signatories.”
“The specialist retail trade with its top dogs in Germany makes a great contribution to the inner cities and social life in the cities, and is often an important sponsor of local club life. We need a rescue umbrella that supports the retailers’ liquidity.”
The government provides the top 30 textile industrial companies with a liquidity fund of EUR 850 million. The industry will use the resulting liquidity to provide the specialist retail trade with all fall/winter deliveries (July-November), with a 180-day value date. The industry assumes 10% of the liability risk. The administration, control and repatriation is carried out by an independent auditing firm (EY, PWC or similar). With this state aid, the flow of goods is secured and liquidity remains in trading for 180 days. The fund should then be dissolved and returned accordingly.
With this measure, specialist retailers and industry can return to normal. The top 30 in the industry account for approximately 60% of sales in the German specialist retail trade. The industry alone cannot cope with this task due to the volume.
The signatories ask the government to examine the proposal quickly and without bureaucracy. Extraordinary times require extraordinary measures.