Tally Weijl, which sells clothing for women and teenage girls, was founded in 1984
Keystone / Georgios Kefalas
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.
Council of Europe warns against excluding Ukraine and Europe from peace talks
This content was published on
The Secretary General of the Council of Europe, Alain Berset, has warned against the exclusion of Ukraine and Europe from peace negotiations.
Switzerland records fewer illegal medicine imports
This content was published on
Last year, the Federal Office for Customs and Border Security seized 15% fewer illegal imports of medicine than the previous year.
Swiss president reacts to US vice president’s speech in Munich
This content was published on
For Swiss President Karin Keller-Sutter, the Munich Security Conference was marked by uncertainty over the course of US foreign policy.
Swiss ‘Covid leaks’ scandal: court keeps gagging order
This content was published on
Swiss prosecutors, investigating a leak of confidential government information during Covid-19, remain blocked from seeing sensitive communication.
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.