Swiss fashion chain Tally Weijl will close 200 of its 800 stores internationally and withdraw completely from Bulgaria. In Switzerland, it will close between five and ten of its 81 stores. However, the company says it has secured financing.
This content was published on
1 minute
Keystone-SDA/ts
The Basel-based retail chain said in a statement on Monday its aim was to strengthen its online presence and retain only those stores that fit into the multi-channel distribution strategy.
Tally Weijl, which employs 635 people in Switzerland and around 40 staff who work with partners, has not commented on possible consequences for employment.
At the international level, in addition to withdrawing from the Bulgarian market, the company will sell its stores in Croatia and Serbia to franchisees.
It indicated that it had secured financing by strengthening its equity capital by CHF27 million ($28.5 million) and by obtaining emergency credit totalling CHF24.7 million.
Tally Weijl, which sells clothing for women and teenage girls, was founded in 1984 by Tally Elfassi-Weijl and Beat Grüring.
More
More
Swiss fashion brands slow to ensure living wage
This content was published on
Campaigners are calling on Swiss fashion brands to step up efforts to ensure workers in their supply chains are treated fairly.
Swiss football boss wants crackdown on individual hooligans
This content was published on
The head of the Swiss Football League says he prefers a harsher approach to individual hooligans rather than collective punishment measures affecting all fans.
Amherd: Council of Europe is ‘as urgently needed as ever’
This content was published on
The Swiss government emphasised on Sunday the vital role of the Strasbourg-based Council of Europe, 75 years after it was founded.
Swiss minister: Italy will back Switzerland in EU talks
This content was published on
Bern can count on the backing of Italy as it re-enters talks with the European Union on future relations, Viola Amherd says.
Student protestors at University of Lausanne continue pro-Palestine sit-in
This content was published on
Since Thursday, a hall on campus has been occupied by students calling for a boycott of Israeli academic institutions and a ceasefire in Gaza.
This content was published on
Swiss public broadcasters RTS and SRF are drastically reducing their communications via the social network X (formerly Twitter).
Israel: president of Swiss universities rejects academic boycott
This content was published on
Luciana Vaccaro, president of Swissuniversities, the umbrella group of Swiss universities, is not in favour of an academic boycott of Israeli universities.
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.
Read more
More
Helping consumers find fair fashion
This content was published on
The calculation comes from the Swiss non-governmental organisation, the Berne Declaration, which has done a survey of ethical standards among Swiss clothing firms. The NGO supports the international Clean Clothes Campaign (CCC), which calls for textile workers’ rights such as health and safety, a living wage, job security and reasonable working hours. As part of…
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.