Sissy-Boy declared bankrupt by Amsterdam court
The Sissy-Boy chian was declared bankrupt by the court of Amsterdam on Friday. The company filed for deferment of payment earlier this month. At that time, the company had 45 of its own stores and 600 employees, NU.nl reports.
The group made an attempt to become more profitable last year, by cutting costs and investing in stores. But like with many other retail chains in the Netherlands, Sissy-Boy suffered under a disappointing summer and winter, according to the newspaper.
Over the past months the owners of Sissy-Boy were looking to sell. Parent company Brand Retail Group was in advanced discussions with a "Dutch family company", but the sale fell through at the last minute.
The Dutch Sissy-Boy was founded in 1982. It sells clothes and some home accessories. In 2018 the chain's turnover amounted to 60 million euros. Its 600 employees share 375 full-time jobs.
It seems to be bankruptcy season in the Netherlands. Over the past months toy store chain Intertoys, clothing chain CoolCat and discount store Op=op Voordeelshop were all declared bankrupt.