The administrators working on fashion retailer MS Mode's finances are filing for bankruptcy for the company. The current situation is no longer tenable, the administrators said to NU.nl. Dismissal will be requested for the 660 employees working at the 130 MS Mode branches in the Netherlands.
The V&D brand name is getting another chance. The bankruptcy administrators reached an agreement with three entrepreneurs about taking over the brand rights. They plan to open a V&D online store
A number of V&D stores may reopen temporarily for a closeout sale to get rid of the remaining store inventory. The administrators working on the chain's bankruptcy are discussing the option with a number of property owners, a spokesperson confirmed
Stores of bankrupt retailer V&D will be closed for at least Monday and Tuesday, during which time the stores' stock will be inventoried. Whether or not they will reopen after Tuesday, depends on negotiations about a takeover or restart, the bankruptcy administrators announced on Monday
Current V&D owner Sun Capital will not be allowed to bid on the bankrupt retail chain and La Place. The bankruptcy administrators invited more than 10 interested parties to make an official bid and the private equity firm is not among them
The works council of bankrupt retail chain V&D submitted a request to the bankruptcy administrators that private equity firm Sun Capital not be involved in the future of the chain. The council blames Sun Capital's withdrawal from the chain for its bankruptcy
Shoe retailer Macintosh was officially declared bankrupt on Wednesday, after announcing that it filed for bankruptcy earlier in the day
Shoe retailer Macintosh filed for bankruptcy on Tuesday. The bankruptcy administrators, along with the company itself, are now investigating all possibilities for a restart. This could include an whole or partial sale, for which there is no shortage in buyers.
The administrators working on the bankruptcy of Royal Imtech has stumbled across an art collection in the estate with an insurance value of 1.7 million euros. The works will be valued and sold.
The bankruptcy administrators working on Imtech's bankruptcy managed to save most of the jobs by selling parts of the business. "I estimate that ultimately one thousand of the 17,000 à 18,000 jobs will be lost", bankruptcy administrator Jeroen Princen said to the Financieele Dagblad.
The police in Dubai have arrested real estate tycoon Roger Lips. Lips has been a fugitive for 13 months. The controversial businessman, who was partly responsible for the near-collapse of the SNS bank, is suspected by the judiciary in the Netherlands of money laundering and large-scale bankruptcy fraud.