Electronics retailer BCC declared bankrupt; 1,000 jobs to disappear
Dutch electronics retailer BCC was declared bankrupt by an Amsterdam court on Friday, a day after the chain reportedly filed for bankruptcy. Many of the company’s 1,100 employees are expected to lose their jobs, but could return to work if some of BBC’s business units are acquired by other companies.
The company is owned by the Mirage Retail Group, which acquired BCC in 2020. The parent company also owns Blokker and Intertoys. The latter was put up for sale last month, and Mirage Retail Group signaled its intent to later sell Blokker.
The parent company also said at the end of August that it wanted to sell off BCC. Two weeks later, on September 14, BCC asked the courts for protection from its creditors.
BCC was founded in 1969, and currently operates 58 stores across the Netherlands as well as a webshop. It was taken over by the Mirage Retail Group in November 2020, which acquired the retail chain from the French company, Fnac Darty. At that time, BCC had 62 stores in the Netherlands. Fnac Darty spent nearly a year looking for a buyer.
More recently, BCC acknowledged it was having a tough time following the coronavirus pandemic. It said that falling consumer confidence and decreasing levels of household spending created “difficult market conditions.”
The company said that consumers were more cautious with their spending amid economic uncertainty brought on by high inflation and the war in Ukraine. Higher inflation also meant increases to rent and wages, but it was unable to pass those growing costs on to its customers.
The firm Lensink en Hekman was appointed as bankruptcy curator, according to RTL Nieuws. The curators will look to find potential businesses which might take control over BCC, and potentially save many of the jobs which will otherwise be lost.
For now, the BCC retail stores and webshop will remain open. BCC’s biggest competitors include Mediamarkt, Coolblue, and Bol.com.