Brief: Gerry Weber Applies For Court Order Of Preliminary Insolvency Proceedings

Gerry Weber International AG

25/01/2019 12:27

Jan 25 (Reuters) - Gerry Weber International AG  GWIG.DE :
    * DGAP-ADHOC: GERRY WEBER INTERNATIONAL AG APPLIES FOR COURT
ORDER
OF PRELIMINARY INSOLVENCY PROCEEDINGS UNDER SELF-ADMINISTRATION
    * REQUESTED PRELIMINARY INSOLVENCY EXCLUSIVELY APPLIES TO
MOTHER
COMPANY GERRY WEBER INTERNATIONAL AG WITH ABOUT 580 EMPLOYEES
    * ALL SUBSIDIARIES INCLUDING HALLHUBER ARE EXCLUDED FROM
REQUEST.
    * BUSINESS OPERATIONS OF GERRY WEBER INTERNATIONAL AG WOULD
BE
CONTINUED ENTIRELY AT NORMAL COURSE
    * CONTINUED FINANCING OF OPERATIONS IS SAFEGUARDED UNTIL
YEAR 2020
    * MANAGING BOARD WOULD REMAIN IN OFFICE WITH ALL POWERS AND
RESPONSIBILITIES, ENSURING OPERATIONS
    * DECISION BY LOCAL COURT ON OPENING OF PRELIMINARY
INSOLVENCY
PROCEEDINGS IS EXPECTED WITHIN TODAY
    * APPLICATION WAS TRIGGERED BY FAILED NEGOTIATION TALKS OF
WITH
FINANCING PARTNERS
    * SUSPENDED FROM TRADE,  RESTART AUCTION TO BEGIN AT 1310
GMT -
XETRA

Source text for Eikon:  ID:nEQ30rcRha 
Further company coverage:  GWIG.DE 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))