The Orsay Group operates an international chain with 705 stores, of which 197 are in Germany and 33 are in Hungary.
Gift cards and club vouchers can be redeemed in the stores by June 10th at the latest, and in the case of non-defective products purchased from them, the possibility of take-back, redemption and refund will be eliminated from today, writes HVG.
According to the newspaper, it is not new that Orsay is in trouble, Forbes wrote earlier this month that the company is struggling with funding problems. The sales revenue of the Hungarian sub-company, MDO Kereskedelmi Kft. fell sharply after 2019, the company closed the year 2020 with a loss of HuF 1.3 billion. On May 4th, the Hungarian webshop was temporarily shut down.
Ordia, an Austrian subsidiary of German clothing retailer Orsay, has previously declared insolvency.
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