Friday, August 5, 2016 - 12:15
Clothing chain MS Mode files for moratorium
Clothing chain MS Mode applied for suspension of payment for its 130 branches in the Netherlands, the company announced no Friday, the Telegraaf reports. MS Mode has more than 400 stores, including the 130 in the Netherlands. This decision so far does not affect the MS Mode branches outside the Netherlands. All stores, including the online one, will remain open. Like many other stores in the Netherlands, MS Mode has been struggling with difficult market conditions. Another contributing factor is the mild winter that resulted in the clothing chain selling part of their winter range at discounted prices. "With the application for suspension of payment, the company has time to explore ways to restore the health of MS Mode and to continue its operation", the directors said. MS Mode employs about 660 people in the Netherlands and 2,300 world wide.