That’s what Thomas Freude says about the protective shield insolvency

WirtschaftsWoche: Mr Freude, the corona pandemic first weighed on the fashion trade. Now, in view of the war in Ukraine and the rising cost of living, the mood to buy has plummeted. What are the consequences for Peek & Cloppenburg?
Thomas Freude: The fashion trade is in crisis. This applies to Peek & Cloppenburg KG, Düsseldorf, as well as to the entire industry. The luxury segment and the discount area are still functioning, but business is collapsing in the middle. This even applies to the online business, with which hardly any clothing retailer makes money, including P&C. It is clear to us that we must take countermeasures quickly and get the company back on track.