Organisers of German fashion trade show, Bread & Butter have filed for insolvency last week, following cancellation of the Bread & Butter show scheduled for January 2015.
In a statement, the organisers said, "Bread & Butter, having been caught up in turbulences lately, is to be restored to profitability with the help of the legal instruments now on hand."
Organisers of German fashion trade show, Bread & Butter have filed for insolvency last week, following cancellation of the Bread & Butter#
However, the retail store business - 14 oz. stores, which belongs to the company, will be continued and also its online portal - 14 oz. web.
Founder Karl-Heinz Müller said, "Many will understand how painful taking this step was for me. But due to legal obligations, I had no other choice.”
He added, “After the cancellation of our January event, we received an unexpected wave of encouragement and support.
“Therefore we are working on an alternative concept for January 2015 already: "Bread & Butter – Back To The Street", for those who are willing to dare taking the next step with us on such short notice," he noted.
On the same day that it filed for insolvency, attorney Christian Graf Brockdorff from BBL was appointed preliminary insolvency receiver.
According to Brockdorff, B&B has a highly motivated team of specialists who have expressed their strong will to continue the company’s activities.
“This is why my team and I will offer our greatest possible support, in order to secure financial recovery and continuation of business, which includes hosting the January 2015 event," Brockdorff said. (AR)
Fibre2fashion News Desk - India