Clothing brand Blažek applied for insolvency

Published: 30.12.2020 Related countries:  United Kingdom United Kingdom

Mainly due to Coronavirus pandemic the famous Czech suit manufacturer Blažek was forced to apply for insolvention.

The company owns over 87 million CZK to more than 150 creditors. All of Blažek stores were closed during the first and the second pandemic wave, which led them to report massive losses, selling their articles on-line wasn’t nearly as profitable as operating in-store. Last year the net turnover of Blažek Praha was 455 million CZK and is currently employing 132 employees, of which 115 are full-time workers. They own 21 stores in the Czech Republic and 8 in Slovakia.

Source: ihned