The French womenswear retailer is suffering greatly from the impacts of the Coronavirus pandemic and as such, is leaving the Switzerland market.
The FashionCube Group currently has only two stories in the market and The Mode Diffusion System (MDS) which previously controlled Pimkie’s activities across the country was liquidated by the Basel court late in 2021 after being insolvent since early November.
Unfortunately, sales achieved by the two branches have been falling since 2017 and operating profit at the end of 2019 was negative, with a spokesperson commenting: “The crisis related to Covid-19 as accelerated the decline and exacerbated the difficulties of these two branches.”
Last year, Pimkie left Belgium were it had 23 branches, Austria were it had 13 branches and halved its stock in Germany (40 of 75 branches were retained), it has also carried out a workforce reduction in Spain. Since December 2021, the German company Young Fashion has been operating the remaining Pimkie branches in Spain, Portugal and Germany on a franchise basis.
