The fashion chain Tally Weijl will close 200 of its 800 stores internationally and withdraw completely from Bulgaria. In Switzerland, the brand will close between five and ten of its 81 stores. The company claims, however, to have secured its financing.
The objective of Tally Weijl is to strengthen its presence on the internet and to keep only the stores that are part of the multi-channel distribution strategy, the company said on Monday in a press release.
635 employees in Switzerland
The chain of stores, which currently employs 635 people in Switzerland and around forty employees working with partners, has not made any statement on the possible consequences for employment.
At the international level, in addition to the withdrawal from the Bulgarian market, the company will cede franchise stores to its stores in Croatia and Serbia.
Tally Weijl said at the same time that he had secured his financing, by strengthening his equity by 27 million francs and by obtaining emergency credits for a total of 24.7 million.