The retail network women's and Fashion House men's wear worked since 2001. As of March, 2020 the company had 19 shops in Moscow and the Moscow region.[1] the Fashion House Trademark Artemis LLC which owns six more companies belongs.
History
2020: Bankruptcy of Fashion House
On April 28, 2020 it became known of what Fashion House gave on bankruptcy because of COVID-19 coronavirus. The Russian retail network of a men's and women's clothing could not survive during self-isolation of Russians and is forced to be closed.
Announced Vedomosti with reference to the letter which the company management sent to employees termination of work of Fashion House. In it it is said that the retailer spent all money for salary payments, money on accounts of the company ended, other payments are not expected.
 | We are forced to recognize our company financially insolvent and to give on bankruptcy — it is specified in the letter. |  |
To all fault pandemic of a coronavirus and fall of income of the population. The followed prohibition of the authorities on work of shopping centers and other traditional types of nonfood trade had to help online trade, but the purchasing power of the population failed, and in the market the competition escalated, and only the largest online networks survive.
According to the newspaper, more than 300 employees suggested to terminate immediately employment contracts, and from directors of shops lists on dismissal demanded. Otherwise workers can be left "without the service records necessary for further employment of the references and personal belongings left at office", reported a source.
The employee of shop in a conversation with the edition reported that the last time of payment were made on March 27, 2020, then workers received advance for March. After this date also other payments — sick-lists, decretive did not arrive, the interlocutor specified.
The head of "Infoline-analytics" Mikhail Burmistrov believes that bankruptcy of Fashion House is connected with the fact that the network did not go to "a leg over time", could not offer an attractive franchize and did not develop online sale.[2]
Notes
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