Dutch fashion house Mexx bankrupt

The Dutch fashion chain Mexx is bankrupt. The court in Amsterdam declared the bankruptcy yesterday afternoon. In the Netherlands this involves three Mexx companies - Mexx Holding Netherlands BV, Mexx Europe Holding BV and Mexx Europe Holding International BV. Others could follow. The court appointed an administrator, who will investigate whether the fashion chain can make a new start. Mexx is active in 50 countries and has 315 stores in Europe. These include many franchisees, several outlet stores and store-in-stores. The fashion chain employs about 1,500 people worldwide, about 500 in the Netherlands. It is as yet unclear what the bankruptcy will mean for the employees, according to the administrator. He hopes that a restart is possible. According to the administrator, Frits Kemps, Mexx's bankruptcy is largely due to people spending less money on clothing after the financial crisis. The fact that the fashion chain has not sufficiently succeeded in reaching younger people, also plays a role. many of the customers have grown with the company and are between 45 and 55 years old. "For a fashion chian that should not be the only target", said Kemp in the Financieele Dagblad.