Retail: Fashion chain Bernie's gives up
The fashion chain Bernie's will close its three stores in Zurich at the end of the year. The store on Neugasse in St. Gallen is to be sold. The Zurich stores are located at Usteristrasse 12 and 14 and Seidengasse 20.
Bernie's cites the difficult situation in the clothing market as the reason for the business closure: the abolition of the minimum euro exchange rate in January, as well as shopping tourism and Internet shopping, had made the restructuring process more difficult. The company had applied for a debt-restructuring moratorium in July. However, no viable solution could be found for the profitable operation of the Zurich stores, according to the statement. (ah)
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