Bargain chain Miniso’s Dutch stores could be up for grabs after Blokker bankruptcy

Three creditors of Mirage Retail Group, the bankrupt parent of bankrupt household chain Blokker, have claimed the stores of retail chain Minso Nederland, bankruptcy administrator Job van Hooff confirmed to RTL Z. Miniso is the only part of the group that is not yet bankrupt, and may be able to generate money for the creditors.

Miniso is a Chinese retail formula that has grown to over 7,000 branches worldwide since its foundation in 2023. The retail formula was introduced in the Netherlands five years ago under Mirage Retail Group as the franchisee. There are eight Miniso stores in the Netherlands, all located in prime locations like Kalverstraat and Leidsestraat in Amsterdam.

These are “well-running stores that have a future and certainly represent value,” Van Hooff told RTL. Miniso Nederland’s annual accounts show that the company had solid financial buffers at the beginning of 2024, making it one of the few remaining healthy parts of Mirage Retail Group. Van Hooff was hoping to sell the company to bring in some money for the creditors.

But three creditors have now claimed the shares in Miniso Nederland, Van Hooff said. According to RTL, they once lent 5 million euros to Mirage and received Miniso shares as collateral. Now that the bankrupt parent company cannot repay the loan, the creditors can take over the Miniso stores.

Van Hoof said that he was still investigating the “alleged lien.”