The St Gallen-based company, which has been granted a four-month moratorium, has been unable to convince new investors or turn around its financial situation in the face of an unpredictable and massive decline in demand since last October.
In a press release issued on Tuesday, Vögele Shoes said it had obtained a four-month debt-restructuring moratorium on October 13. It said that in view of the unfavourable business development and the failure of discussions with various investors, the board of directors and the management had decided, in agreement with the relevant commissioner, to terminate the company’s commercial activities, “probably by the end of 2022 at the latest”.
Vögele Shoes added that it was in close contact with the 131 employees affected by the decision, the trade unions and human resources specialists. Discussions are also underway with partners and suppliers in order to organise the orderly winding down of sites and stocks of goods by the end of the year.
Solidaritätsnetz International will support people who lose their jobs. We urge the authorities of Canton and the Confederation to strictly respect the legitimate interests of employees.