Company has to look for other solution to rescue. Takko has 115 branches in Austria.
The negotiations between the German fashion discounter Takko and the state of North Rhine-Westphalia about a guarantee for several million euros have “de facto failed”, according to the company. Takko “must now try to find another solution to ensure the continued existence of the company,” it said in a statement on Monday.
The current lockdown has brought the “perfectly healthy company” into an “economic extreme situation” before the pandemic. The last applicable restrictions would have “cost Takko ten million euros week after week,” said the company. With over 1,900 branches in 17 countries, 115 of them in Austria, Takko is one of the largest fashion chains in Europe.
Interim CEO Karl-Heinz Holland said: “I am more than disappointed that the state of North Rhine-Westphalia is not supporting us in this situation.” The guarantee would have given the company “breathing space again to cover operating costs in the short term. It would not have been more than that.” According to Takko, the conditions of an auditing firm commissioned by the state and federal government could not be met.
A reaction from the state government was initially still pending. Numerous companies have applied for a guarantee since the corona pandemic. The most prominent so far was that for Schalke 04. According to the Bundesliga club from the summer, the guarantee had been approved. The amount was not officially announced, but it was reportedly around 31 million euros.
