Austria, no more options for Charles Vögele: the restructuring process fails and bankruptcy is around the corner

The healthier regime isn’t enough: retailer Charles Vögele GmbH Austria filed for bankruptcy with the Graz regional tribunal. The chain has 57 stores in Austria and about 364 employees. While the brand’s revenue is of 3,4 million euro, total debt amounts to about 6 million. Now the goal is to find a new employer for the workers. The owner of the brand, Sempione Fashion AG had begun restructuring the retailer in July 2018, which terminated this past November and brought the brand to cut the number of stores and get thinner with regards to its organization, all with the goal of making the company more appealing to an investor that never knocked on the door. “Unfortunately, sales negotiations failed and short- and medium-term activities for the remaining sites can no longer be sustained”, stated a spokesperson of the retail chain.

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