The share of the women’s fashion manufacturer Gerry Weber is crashed after the insolvency of the company. After the papers were exposed to the message briefly from the trade, have been pushed after the re-inclusion in the tip by more than 75 percent. In late trading, the Minus amounted to approximately 68 percent, the share value was 58 cents.

The Long bad running share is finally the penny stock become. The parent company, Gerry Weber International with approximately 580 employees, has submitted to the district court of Bielefeld application for insolvency proceedings in self-administration. The objective is to rehabilitate the company, it said. The court agreed.

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The business is to be conducted according to the company, in full. And the financing of the fashion provider is secured according to the current state up to the year 2020, it said. The shares of Gerry Weber are already since 2015 in the downward trend. From the then level of around 35 Euro, it went in the face of declining sales and red rapidly to the bottom.

Already in the past few months had heaped the bad news from the Westphalian company. Most recently, the company had corrected in mid-January its profit forecast downward, as a reason, among other problems so far, hope applicable subsidiary hallhuber had been called.

brt/Reuters