Three ADLER outlets are present in Luxembourg. Photo: Adler

Three ADLER outlets are present in Luxembourg. Photo: Adler

The German ready-to-wear clothing chain Adler is set to implement its insolvency plan following approval by the Aschaffenburg local court. About 130 shops will be saved, including the three locations in Luxembourg, the company said on Wednesday.

Negotiations surrounding the insolvency plan--which lays out the financial and operational restructuring measures of the brand and was introduced in January--have resulted in the verdict that more than 100 branches in Germany and 29 abroad will be kept: 24 in Austria, three in Luxembourg and two in Switzerland.

Considering the exceptionally tough conditions experienced since the beginning of the year, this is a great success.
Thomas Freude

Thomas FreudeCEOAdler

The company currently employs 3,100 people in 172 outlets, including in Strassen, Foetz and Wemperhardt. Its cashflow was affected by the health crisis last year, which ate into its liquidity.

“Adler is saved! Approval from creditors secures the jobs of over 2,600 of our great employees and ensures the survival of over 130 locations. Considering the exceptionally tough conditions experienced since the beginning of the year, this is a great success,” said company CEO Thomas Freude.

Dr Christian Gerloff, a lawyer and authorised representative of Adler Modemärkte AG, noted the excellent cooperation with the Aschaffenburg courts, adding that Adler has found its existence again despite the turbulence “caused by the pandemic” and is on course to enjoy success as in the pre-pandemic era.