BERLIN — German retailer Woolworth Deutschland GmbH & Co. KG confirmed Tuesday it filed for bankruptcy over Easter weekend.
Founded in 1926 and separated from the American parent company in 1998, Woolworth Germany operates 330 stores in Germany and Austria and employs around 11,000. The British financial investment firm Argyll Partners took over the challenged retail chain from Electra Private Equity in late 2007. As part of that deal, Cerberus Capital Management LP bought and leased back around 100 Woolworth properties.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
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