Adler Modemärkte : MODEMÄRKTE AG ENTERS INTO PRELIMINARY INSOLVENCY PROCEEDINGS IN SELF-ADMINISTRATION

Disclosure of inside information pursuant to Article 17 of the Regulation (EU)

No 596/2014

published 12 Januar 2021, 16:39 MEZ

Adler Modemärkte AG enters into preliminary insolvency proceedings in self-administration

Haibach (near Aschaffenburg), 12 January 2021 - Today, the local court of Aschaffenburg approved the application of Adler Modemärkte AG (ISIN DE000A1H8MU) of 11 January 2021 and opened (preliminary) insolvency proceedings in self-administration pursuant to Section 270b (1), (2) of the German Insolvency Code, new version.

Within the scope of the preliminary self-administration, the business operations of Adler Modemärkte AG shall be continued in their entirety and the company shall be restructured by means of an insolvency plan. The management board of the company will continue to have the power of administration and disposition. For its support, the management board has appointed the lawyer Dr. Christian Gerloff, who is an established expert in the textile retail sector with extensive experience in restructuring and insolvency cases, as general representative. The court has appointed the lawyer Tobias Wahl, Anchor Rechtsanwälte, as preliminary custodian (Sachwalter).

The local court of Aschaffenburg also approved the applications of the subsidiaries Adler Mode GmbH, Adler Orange GmbH & Co. KG and Adler Orange Verwaltung GmbH for the opening of (preliminary) insolvency proceedings in self-administration pursuant to Section 270b (1), (2) of the German Insolvency Code, new version and appointed also Tobias Wahl, Anchor Rechtsanwälte, as preliminary custodian (Sachwalter).

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Adler Modemärkte AG press enquiries and investor relations:

Peter Dietz

Media und Investor Relations

Tel.: [phone]

E-mail:[e-mail]

About Adler Modemärkte AG:

Adler Modemärkte AG, headquartered in Haibach near Aschaffenburg, Germany, is one of Germany's largest and most important textile retailers. In 2019, the Group generated revenue of €495.4 million and EBITDA of €70.3 million. As at 30 September 2020, ADLER employed a workforce of around 3,350 and currently operates 171 stores,

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142 of which are located in Germany, 24 in Austria, three in Luxembourg, two in Switzerland, plus an online shop. The Company focuses on large-space concepts offering in excess of 1,400 m2 of retail space. With its many own brands and select external brands, ADLER offers a highly diverse product range. Thanks to more than 70 years of tradition and strong customer loyalty, ADLER considers itself to be the market leader within its target group of affluent customers aged 55 and over.

For more information:www.adlermode-unternehmen.com;www.adlermode.com

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