Kinderdijk is finally showing signs that it is recovering from its financial troubles. On Wednesday the windmill complex welcomed its 150,000th visitor of the season - the first time ever that so many tourists visited the complex so early in the season.
V&D has reached an agreement with the unions. The company will not cut its employees' wages, but to make this possible, a reorganisation will be necessary.
The Midden-Nederland court approved an agreement between Dutch supercar manufacturer Spyker and its creditors on Thursday, reports Omroep Flevoland. The financially-strapped car company is primed to exit administration, unless an appeal against the decision of the court is filed.
Creditors involved with the sports car manufacturer Spyker will only receive a full compensation for debts up to 12,000 euros. The embattled sports car manufacturer will only pay ten percent of debts over the amount in an effort to get out of receivership, reports RTL Nieuws
Dutch retailer V&D is pushing for a discount of 24 million euros on rent for its 63 stores across the country. The company is trying to force through a deal with landlord, writes Het Parool, after difficult negotiations barely kept the retailer out of bankruptcy.
Talks between the workers' union and V&D store management ended Tuesday without an agreement on a wage cut deal the managers say is crucial to the story remaining open and regaining its financial footing.
V&D is celebrating its narrow escape from bankruptcy with its customers by handing out free pie, according to a full page ad in the Metro.
V&D will shrink each of its 63 branches in return for the landlords of V&D department stores handing in 25 million euro in rent. That is the result of the final meeting between V&D and the landlords of its stores. V&D owner Sun Capital still hast to approve this agreement.
The V&D crisis talks with the company's landlords continued last night. V&D wants the landlords to give them 6 months time to work on a new strategy, NOS reports based on the company's concept plans. The company also wants a rent discount of more than 50 percent for the next 6 months.
Employee unions are rejoining discussions with management at Dutch retailer V&D. The department store is under significant financial pressure, and is trying to force employees to take a wage cut of six percent.
Supplier CB (formerly Centraal Boekhuis) has not been delivering books to the financially troubled V&D for almost two weeks. CB made this decision on January 23rd after its credit insurer, Coface, withdrew V&D's credit limit, NOS reports.
The court in Amsterdam will rule on Friday in the lawsuit that IEF Capital filed against department store V&D. On Tuesday IEF demanded evacuation of four main V&D branches in Amsterdam, The Hague, Maastricht and Utrecht because V&D is not meeting its lease obligations. IEF also owns another 8 V&D buildings.
The court in Leeuwarden has reversed Spyker's bankruptcy during an appeal. Victor Muller managed to produce an amount of 4.3 million euro with which the most acute debts can be paid. The court therefore decided that administrator Henk Pasman was too hasty in applying for bankruptcy.
It has been a bad week for shoe stores. A court in Amsterdam has declared the shoe chain House of Shoes bankrupt. On Tuesday, retail chain Schoenenreus sent a letter to its staff stating the company had requested a postponement of payments, a harbinger of a possible bankruptcy. Schonenreus stores were closed on Tuesday.
The bankruptcy administrators of Halfords have recently agreed to reopen at least another 12 outlets of the chain. The buyers are existing franchisees and former employees. With this step, the restart of Halfords has been completed.
A large number of V&D employees plan to sue their own board because of the mandatory salary reduction of 5.8 percent. More than a hundred employees have already indicated that they will go to court once they've received the February payslips, including the salary sacrifice, Volkskrant reports
The Netherlands saw a total of 6,645 businesses go bankrupt in 2014. This constituted a 21-percent drop from 2013 which saw a record 8,376 bankruptcies across the country, according to new data released by Statistics Netherlands (CBS) on Friday.
Utrecht fashion chain Thom Broekman is bankrupt, marking the third blow to the Dutch fashion industry in only a week.
Retail chain Halfords is making a downsized restart. The company announced on Tuesday that approximately 20 percent of the former employees can start working again.
Since the beginning of the economic crisis in 2008, about 22 thousand stores in the Netherlands have disappeared, mostly due to bankruptcy. According to calculations by market researcher Q&A, there are about 90 thousand stores left at the end of this year.
Sports car manufacturer Spyker declared bankruptcy Thursday after years of financial turmoil following the firm’s failed attempt to revive Swedish automaker Saab. The Dutch firm filed for voluntary financial restructuring earlier in December.
The Netherlands rugby association NRB needs 1.2 million euro on the short term to avoid bankruptcy
All Dutch customers who invested in Icesave are to be refunded in full, the bank said last week. The online subsidiary of failed national Icelandic bank Landsbanki had offered Dutch customers five percent interest rates on savings, much higher than what was available in the Netherlands at that time, before going belly-up in 2008.