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Gössl Trachtenmode: A new start after bankruptcy – what happens now?
Gössl, a traditional clothing company in Berchtesgadener Land, is planning a restructuring after bankruptcy and is focusing on digitalization and a younger audience.
Gössl Trachtenmode: A new start after bankruptcy – what happens now?
The traditional company Gössl, known for its traditional costume fashion, recently filed for bankruptcy and will now attempt to make a fresh start economically with a decisive restructuring plan. As wasserburg24.de reports, the company is faced with the challenge of processing receivables totaling around 4.1 million euros, while the Alpine region Creditors' Association recognized around 920,000 euros. Previously, the debts even totaled around 9.6 million euros.
The positive news is that the restructuring plan has now been approved. This means that the branches in Traunstein and Bad Reichenhall as well as the Gwandhaus and the warehouse outlet in Bergheim will continue to exist. However, some shops in Salzburger Land, such as the one in Altenmarkt, had to close. In the future, the company will operate under a united front of two companies and plans to increase its focus on digitalization and younger target groups.
Renovation attempt and challenges
However, Gössl's attempted restructuring is not without complications. According to a report from salzburg.orf.at, the restructuring attempt is considered a failure for the time being, although details about the exact reasons for this are not known. The fashion industry as a whole is being hit by a wave of bankruptcies - from well-known names like Galeria Karstadt Kaufhof to Gerry Weber and Orsay. These developments highlight the serious problems plaguing many companies in the industry.
The signs are alarming: high inflation, the ongoing consequences of the pandemic and the trend towards online shopping are affecting many branches. Companies like Gerry Weber are losing massive amounts of business, and Orsay also had to close all of its stores in Germany. This problem is not limited to Germany - numerous fashion companies in Austria also face similar challenges. Gössl's restructuring plan provides for a cash quota of ten percent, and the first payments are to be made after the plan becomes legal. Meanwhile, the online shop remains temporarily offline.
The future of Gössl
But hope dies last: Production has already been ramped up and new collections for summer 2025 are in the starting blocks. The outlet in Bergheim will also be reopened in order to reduce stocks - over 20,000 pieces of traditional fashion have already been auctioned. Gössl wants to optimize customer service and is planning private shopping experiences. In order to further advance the rebuilding, the company is not only looking for new employees, but also for franchisees.
The coming weeks and months will be crucial for the future of Gössl and how the company overcomes the challenges of the times. It remains to be seen whether the planned measures will be enough to give the traditional house new impetus. In the fashion industry, Gössl could potentially be an example for other companies that have to overcome similar structures in order to survive in the highly competitive market.