Electronics chain BCC files for bankruptcy: report
BCC has filed for bankruptcy. The administrators of the electronics chain informed its employees on Thursday morning, and various sources within and around the company confirmed to RTL Z.
The court granted BCC a deferment of payment last week. The electronics chain has 58 stores, an online shop, and around 1,300 employees.
If the court declares BCC bankrupt, the bankruptcy administrators can start working on a possible restart, potentially saving some of the jobs.
The electronics chain has been struggling with financial problems. BCC’s revenue model no longer works, Michiel Witteveen of Mirage Retail, owner of BCC, said when filing for deferred payments last week. “Rent, wages, and energy have all become more expensive. To make money, you simply have to make higher margins, but major suppliers refuse to move in that direction,” he said.
The chain also struggled with declining consumer spending. During the pandemic, people bought a lot more electronics and household appliances. Now, whatever money they have left after inflation is going towards services like holidays and restaurants.