Vögele Shoes massively reduces its store network
The Vögele shoe retail chain has closed 51 stores in recent months. However, bankruptcy of the company has been averted for the time being.
Just three years ago, the Karl Vögele shoe company operated more than 200 stores - now it has only 28, as Chairman of the Board Christian Müller confirmed to the Toggenburger Tagblatt.
The background is the provisional composition proceedings that Vögele filed for in June to prevent bankruptcy. Since then, several local newspapers have reported on a total of 51 store closures, most recently the St. Galler Tagblatt, for example, reported that the store in the Shopping Arena - the only one in the city - would be closed. The stores in the Center Moos in Gossau and in Rorschach are already closed.
On October 14, the competent court, the See-Gaster District Court in Uznach, has now granted the definitive moratorium. The administrator, Baur Hürlimann AG, has been granted permission to sell the store fittings in stores that have already been closed or are still to be closed, or to hand them over to the respective landlords as part of a settlement. Vögele now has until spring 2023 to implement a restructuring plan. (ah)
