On 30 July last the Dutch retailers Miss Etam Operations B.V., Modehuizen Claudia-Sträter B.V. and Steps Retail B.V. obtained suspension of payments from the Amsterdam District Court. Earlier, in April 2015, Miss Etam and Promiss were declared bankrupt, with the appointment of Martijn Vermeeren of BUREN as bankrupty trustee. At that time, there was a successful restart with over 100 stores and a large number of employees. Kees van de Meent has now been appointed as administrator. The administrator will now, together with the retailers' board, re-examine whether a restart is possible. A bankruptcy will probably follow soon.
These suspensions of payments are related to the bankruptcy filing in Belgium from the Belgian fashion group FNG. FNG has not been able to find financing or investors to guarantee continuity, as the Dutch financial newspaper FD (in Dutch) also reported. This also means that other FNG subsidiaries such as the national fashion stores Expresso Fashion B.V., New Fashions B.V., Expresso Fashion Web B.V. and the Weert based shoe shop Theo Henkelman Schoenen B.V. obtained suspension of payments on July 30 with the appointment of the same administrator.
BUREN can assist you
We can inform you as a supplier, interested in a restart and for all other involved parties, about the consequences of a suspension of payments or future bankruptcy.
It is important that you safeguard your rights in time and limit your possible damage as much as possible. BUREN advises companies that are subject to a suspension of payments or bankruptcy to optimize their positions. We have previously written this alert for vendors in the retail industry. If you as a company are looking for quick advice to better protect rights or to make a restart, then we would like to hear from you.
If you have any questions regarding this bankruptcy, please contact:
We have a lot of experience with (advising on) insolvencies in the retail industry, such as that of the department store V&D, and fashion brands MS Mode and Mexx. In addition, Martijn Vermeeren is one of the bankruptcy trustees in the bankruptcy of Miss Etam of 2015. For more information, please refer to this page.
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