Blokker requests payment deferral; Often a precursor to bankruptcy

Blokker has filed for a deferment of payment. The retail chain is in serious financial trouble. Payment deferral is often a precursor to bankruptcy.

“This is a difficult decision and we regret the uncertainty it creates for all those involved who have supported us so loyally in recent years, including employees, franchisees, suppliers, and customers,” Blokker CEO Pauline Boerman said in a press release.

The 128-year-old retail chain has been in financial trouble for a long time, suffering heavy losses in recent years and struggling with a large tax debt accumulated during the coronavirus crisis.

Blokker’s stores will remain open for the time being, but its webshop is closed. The chain has almost 400 stores and over 3,500 employees.