Clothes chain Pm file bankruptcy
The nationwide clothing chain Pm has lost its battle to bankruptcy after spending a lot of money in the last three years.
The clothing chain, which wasaimed to plus sized women, has had NOK 73 million in total deficit over the last three years. Now the management of the company PM Retail has begun the company’s bankruptcy filings, writes Dagens Næringsliv.
“We have just completed a total revitalization of our products, we have developed a new and modern store concept and we were in the final phase of opening our online store. Nevertheless, we must acknowledge that the market challenges have been too great and that we have not managed to turn the business quickly enough,” says CEO Marianne Bjarstad in PM Retail in a press release.
© NTB scanpix / #Norway Today
