The St Gallen-based company, which has been granted a four-month moratorium, has been unable to convince new investors or turn around its financial situation in the face of an unpredictable and massive decline in demand since last October.
In a press release issued on Tuesday, Vögele Shoes said it had obtained a four-month debt-restructuring moratorium on October 13. It said that in view of the unfavourable business development and the failure of discussions with various investors, the board of directors and the management had decided, in agreement with the relevant commissioner, to terminate the company’s commercial activities, “probably by the end of 2022 at the latest”.
Vögele Shoes added that it was in close contact with the 131 employees affected by the decision, the trade unions and human resources specialists. Discussions are also underway with partners and suppliers in order to organise the orderly winding down of sites and stocks of goods by the end of the year.
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Long live the shoe!
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Shoes are hard to recycle because they’re made of tiny bits of different materials. To lessen their impact on the environment they can however be cared for so as to make them live longer: that’s where cobblers come in handy. To adapt to new types of shoes, a new shop in Geneva offers pressing and cobbling…
The company has its roots in a cobbler’s shop opened by Karl Vögele in Uznach, northeastern Switzerland, in 1922. Vögele expanded the range to include mail-order shoe sales in 1955. The following year he opened the first shoe fashion shop in Chur.
It remained an independent family business until 2018, when it was bought by the Polish CCC Group. It was then sold to German company cm.shoes last year. Shareholders wanted to lead the group “into an even more digital future”, they said at the time.
Vögele Shoes had already been struggling with falling sales before Covid, but the pandemic and associated temporary closures were the final straw.
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Vögele Shoes, hit by coronavirus, to lose 60 stores
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Switzerland’s second-biggest shoe chain Vögele Shoes is to close 60 stores in the country.
Swiss climate activists block vehicles near Gotthard tunnel
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Around ten climate activists briefly blocked the A2 motorway near the northern entrance of the Gotthard tunnel on Thursday.
Watches belonging to Michael Schumacher up for auction
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Schumacher's family is auctioning off eight rare watches from his collection in Geneva. The Christie's auction will take place on Monday.
Joya Marleen and Baschi named best solo acts at Swiss Music Awards
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St. Gallen singer Joya Marleen and Baschi from Basel were named artists of the year at the Swiss Music Awards 2024 on Wednesday night.
Swiss authorities announce cost-cutting in asylum sector
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The government notably wants to improve integration into the labour force, particularly for people with protection status S.
Various leaders confirm participation at Ukraine peace conference
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The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
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In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
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As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
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After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
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The making of a Swiss footwear multinational
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Swiss footwear company On is making a name for itself in an industry that has been dominated by big players like Nike. What makes it different?
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.