Monday , August 10 2020
Home / SNB & CHF / Tally Weijl to close quarter of stores

Tally Weijl to close quarter of stores

Summary:
Tally Weijl, which sells clothing for women and teenage girls, was founded in 1984 Keystone / Georgios Kefalas Swiss fashion chain Tally Weijl will close 200 of its 800 stores internationally and withdraw completely from Bulgaria. In Switzerland, it will close between five and ten of its 81 stores. However, the company says it has secured financing. The Basel-based retail chain said in a statement on Monday its aim was to strengthen its online presence and retain only those stores that fit into the multi-channel distribution strategy. Tally Weijl, which employs 635 people in Switzerland and around 40 staff who work with partners, has not commented on possible consequences for employment. At the international level, in addition to withdrawing from the Bulgarian

Topics:
Swissinfo considers the following as important: , , , , ,

This could be interesting, too:

Swissinfo writes Doubts over EU regulations deal raise prospect of higher City costs

Marc Chandler writes FX Daily, July 13: Risk Appetites Firm, but the Greenback is Mixed

Swissinfo writes Credit Suisse settles U.S. shareholder lawsuit 

Investec writes Coronavirus: no significant slowdown in new cases in Switzerland

Tally Weijl to close quarter of stores

Tally Weijl, which sells clothing for women and teenage girls, was founded in 1984 Keystone / Georgios Kefalas

Swiss fashion chain Tally Weijl will close 200 of its 800 stores internationally and withdraw completely from Bulgaria. In Switzerland, it will close between five and ten of its 81 stores. However, the company says it has secured financing.

The Basel-based retail chain said in a statement on Monday its aim was to strengthen its online presence and retain only those stores that fit into the multi-channel distribution strategy.

Tally Weijl, which employs 635 people in Switzerland and around 40 staff who work with partners, has not commented on possible consequences for employment.

At the international level, in addition to withdrawing from the Bulgarian market, the company will sell its stores in Croatia and Serbia to franchisees.

It indicated that it had secured financing by strengthening its equity capital by CHF27 million ($28.5 million) and by obtaining emergency credit totalling CHF24.7 million.

Tally Weijl, which sells clothing for women and teenage girls, was founded in 1984 by Tally Elfassi-Weijl and Beat Grüring.


Tags: ,,,
About Swissinfo
Swissinfo
SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.

Leave a Reply

Your email address will not be published. Required fields are marked *