Restart for bankrupt fashion chain Witteveen

Bankrupt women's fashion chain Witteveen is making a restart. A group of Dutch investors, united in the newly established Witteveen Retail B.V., signed a restart agreement with the bankruptcy administrator, the administrator announced on Tuesday, NU.nl reports.

Witteveen currently has 72 stores. The new owners want to keep as many of these stores, and the jobs in them, as possible. How many stores can be saved will depend on, among other things, the negotiations with the landlords. Before the bankruptcy, Witteveen had 94 stores and 400 employees.

The Witteveen online store will also be back online soon.

"The Works Council gave a positive opinon and I am so pleased with the plans of the new owners. I made an agreement with them that they will offer at least 70 percent of the shop staff a new job", bankruptcy administrator Rinke Dulack said, according to the newspaper.

Witteveen was delcared bankrupton July 25th at the request of the Tax Authority due to outstanding taxes.