This Viennese Fashion Retailer Will Close This Year
The withdrawal of the brand also affects ten franchise-run shops and more than a hundred sales outlets in the specialist trade as well as 110 employees. There is already interest in the trade for 80 of them. The company had already filed for bankruptcy twice in recent years.
End for Viennese Jones Headquarters
The headquarters in Vienna-Landstraße and the online shop will be closed by the summer, franchise contracts will be dissolved, and a collection clearance sale will start in April. Except for four locations, three fashion brands will take over all the stores and succeed Jones as tenants. One of them is More & More, reports the "Standard". The textile chain, owned by Turkish interests, expanded from Munich into 16 countries. Now the company is securing three to four stores in Austria.
At least seven locations are to be taken over by Liberty Fashion. The German retailer is currently only represented in Innsbruck in this country. As a successor to Jones, the Salzburg fashion label Musterzimmer is also making the move to Vienna. The location on Graben in the heart of Vienna, which served as a showcase for Jones, is looking for new operators on the open market.
Jones CEO Comments
"In view of the changed consumer habits and the significant cost increases, we have not succeeded in developing a viable solution for the future of Jones despite intensive cost-cutting measures," said company CEO Gabor Rose in a statement on Friday. "We would need a 10 to 15 percent increase in sales every year to cover the costs. We neither believe in a 10 to 15 percent increase in sales, nor are our customers willing to pay 10 to 15 percent more for the goods," Rose explained to the "Kurier".
In the textile industry, a market shakeout has been underway for some time, and recently it affected the traditional house Palmers. The insolvent lingerie retailer is closing 36 stores, affecting 117 employees, the company announced a month ago. The ongoing financing of the operational business is "currently secured".
(APA/Red)
This article has been automatically translated, read the original article here.