Billionaire Friedrich Knapp, creator of the New Yorker clothing chain, has died after a long illness. His company has more than 1,200 branches in 47 countries and about 23,000 employees.

Billionaire Friedrich Knapp, the founder and head of the German chain of clothing stores New Yorker, has passed away. He was left with three children and a life partner, reports UNN with reference to Bild.

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Knapp turned New Yorker, founded in Lower Saxony, into a global fashion empire. Today, the company has more than 1,200 branches in 47 countries and about 23,000 employees. Branches can be found in almost every major city in Germany.

Knapp, who rarely appeared in public, died on the island of Sylt, where he arrived last week after long treatment in Switzerland. According to the Braunschweiger Zeitung newspaper, he had fallen seriously ill about a year ago.

Braunschweig Mayor Thorsten Kornblum expressed his condolences on the death of the entrepreneur and noted his contribution to the development of the city, especially in the field of sports and culture.