News has emerged that Gerry Weber is set to close down its stable of UK stores as part of a wider restructure undertaken by its parent company. The fashion retailer is slated to close down its stores by the end of October.
The most recent annual report from Gerry Weber International, which is based in Germany, for the 2016/17 financial year stated the retailer had 26 stores in UK and Ireland.
“In the UK, Gerry Weber puts its strategic focus on wholesale. We are closely working together with our wholesale partners and strive to grow with them perspectively in the UK,” a Gerry Weber spokesman said.
The store closures form part of Gerry Weber’s wider restructuring, which started back in January. At the time, it said it would restructure the business by closing 230 stores, and slash up to 900 jobs in Germany and internationally.
Earlier this week, the retailer announced it secured an investment agreement for Gerry Weber International with funds managed by Robus Capital and Whitebox Advisors that will see it receive a €49.2 million (£44.2 million) cash injection.
