Dutch fashion chain McGregor files for bankruptcy

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Fashion chain McGregor filed for bankruptcy for 11 of the group's 50 parts, the company announced on Tuesday. For the time being all stores and online shops will remain open, ANP reports.

Affected parts include Adam Menswear, Gaastra Retail and McGregor Fashion Group. According to the bankruptcy administrators, filing for bankruptcy protects the most jobs and enables a smooth continuation of the company under new owners.

Both domestic and international parties showed serious interest in acquiring the group and the administrators expect to complete the sales process within two weeks.

A few weeks ago McGregor Fashion Group and subsidiary Adam Brand Store asked for suspension of payment. This was granted to then and other subsidiaries a few days ago.

The group was founded in 1993 and currently counts about 150 own stores and 200 shop-in-shops. The group also sells its clothing in some 3 thousand other stores.