The Prague City Court has approved a request by the men’s fashion retailer Blazek Praha for protection from its creditors. The decision gives the company three months of time during in which to deal with its debts without threat of bankruptcy proceedings being brought against it. In its application, Blazek Praha wrote that it had been hurt by the lockdown period during the coronavirus crisis, during which its stores were closed for several months. Cash flow from online sales were insufficient to cover its necessary payments. The server E15.cz writes that the company has 21 stores in the Czech Republic, eight in Slovakia, employs 125 people and its last reported annual turnover was CZK 455 million.
