The well-known clothing company has dozens of stone shops in the Czech Republic and Slovakia. However, they remained closed for several months due to a government order. The e-shop set up by Blažek was unable to compensate for the loss of income in part. The portal informed about it Today.
The brand is based on a personal approach to the customer and additional services that cannot be provided electronically. These include individual suit adjustments or fashion advice. 125 people work for the company.
Blažek wants to use the moratorium period (the period of deferral of, for example, debts due to extraordinary circumstances) to stabilize the company. Over the next three months, creditors cannot claim debt and the brand cannot even go bankrupt. In addition, the court may extend the term of protection by a further three months.
Last week, the Municipal Court in Prague also declared a moratorium on Smartwings. Both companies submitted a proposal for a moratorium themselves. The carrier was also hit by a sharp drop in sales due to the coronavirus pandemic, and lost a Chinese investor.
“The extraordinary moratorium will allow the proposer to secure scheduled flights and resume additional routes depending on the development of the epidemiological situation in individual countries and travel restrictions, while continuing to negotiate funding with the government’s COVID Plus program,” the airline said in the proposal.
The same court also declared a moratorium on the travel agency Firo-tour. The fifth largest travel agency in the Czech Republic is facing financial problems due to a decline in tour sales.