Retail: Fashion chain Blackout on the brink of extinction
The Swiss fashion chain Blackout AG has run into financial difficulties and is seeking a partial sale. An investor is to be found by May who will buy up the 92 individual stores throughout Switzerland.
The company has been granted a moratorium until May 9. It has that long to find an investor. According to the company, the reason for the difficulties is the strong Swiss franc, shopping tourism and online retailing.
According to media reports, Blackout is currently in negotiations with interested parties, but will have to close some stores and lay off employees. Individual stores in Vaud have already been informed that they will be closed by the end of February. (ah)
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