Ad-hoc announcement pursuant to section 17 MAR

GERRY WEBER International AG enters into preliminary insolvency proceedings under self-administration

(Halle/Westphalia, 25 January 2019) Today, GERRY WEBER International AG applied for the court order of preliminary insolvency proceedings under self-administration according to § 270 a InsO at the responsible local court Bielefeld, aiming at successfully restructuring the company through the ongoing restructuring program. The application was approved by the local court Bielefeld. The preliminary insolvency exclusively applies to the mother company GERRY WEBER International AG with about 580 employees; all subsidiaries including HALLHUBER are excluded from the proceedings. Within the scope of the preliminary self-administration, business operations of GERRY WEBER International AG are continued entirely at normal course. According to the current status, the continued financing of operations is safeguarded until the year 2020. The Managing Board remains in office with all powers and responsibilities, ensuring operations. For support, the Managing Board consults the insolvency law experienced and in the fashion industry very well-versed self-administrator and reorganization expert Christian Gerloff, Gerloff Liebler Rechtsanwälte. In the function of a General Representative, he will coordinate in particular with regard to procedural and insolvency law issues. The local court has appointed lawyer Stefan Meyer, PLUTA Rechtsanwalts GmbH, a restructuring expert with experience in both the industry and insolvency law as provisional trustee (Sachwalter).

The Managing Board

Notifying Person:
Florian Frank
Member of the Managing Board
Phone: +49 5201 185-140
ir@gerryweber.com