Bally may close and liquidate its only remaining German store, at Outletcity Metzingen, after its German business entered provisional insolvency administration on Sept. 16. The store was still open on Sept. 23, and no closure had been confirmed.
Employees at the Metzingen store were informed of the possible closure, and preparations for a clearance sale were reportedly underway, WirtschaftsWoche reported. Administrators described the situation as difficult and cited a slow flow of information from Bally's Swiss parent, Fashion Network reported.
B.D. Retail Deutschland GmbH entered provisional insolvency administration on Sept. 16. Separately, Bally Schuhfabriken GmbH received a provisional debt-restructuring moratorium from the Zug Cantonal Court on June 15, lasting through Oct. 15. During the restructuring, Bally's Swiss parent also ended shoe production at its Caslano facility.
