The founder of the German fashion manufacturer Gerry Weber has made his own mistakes in view of the recently applied for bankruptcy. One of the biggest mistakes was the construction of a new logistics center, Gerald Weber told Der Spiegel. The hall was too big and too expensive.
„Not consistently enough rejuvenated“
Another problem is the expansion strategy. Also, the positioning of the 77-year-old looks critical. „A brand needs to rejuvenate, maybe we did not do it consistently enough.“
Weber led the fashion company until 2015, holding nearly 30 percent of the shares. The logistics center went into operation in 2015. It was „the sticking point that we got into trouble,“ said the founder of the „mirror“. The company had applied for bankruptcy in self-administration at the end of January. The goal is to restructure the company as part of the ongoing restructuring.
„Life’s not finished yet“
Weber expressed confidence that this can succeed. „The life’s work is not finished yet. I believe we are on a path to how we can save the company. „By June, it should be decided“ whether the company will be remediated through a bankruptcy plan or if it will be sold. “ There should be a „competition of concepts“.
