Multi-brand retailer Men At Work declared bankrupt

Shomara Roosblad

Опубликовано
27 июн. 2018 г.

On Tuesday 26 June, the court in Amsterdam declared the Dutch branches of multi brand retailer Men At Work bankrupt.

According to the lawyer’s office Van Diepen Van der Kroef Advocaten, who handles the case, a bankruptcy was inevitable. The court administrator will investigate in the coming period whether a relaunch of Men At Work is possible, while the physical stores will remain open.

On Friday 22 June, Dutch financial news website RTL Z reported that Men At Work had plans to close its e-store and offered a final sale. At the time, RTL Z cited financial problems as the result of the online store closure, based on information from Men At Work employees. The sources, however, added that the physical stores would remain open for the time being.

In addition, local media reported earlier this month that Men At Work branches in Leiden and Groningen would be closing at the end of this year.

Earlier this week, Van Diepen Van der Kroef Advocaten released a press statement, saying that Men At Work was granted an extended payment from the court in Oost Brabant. But, after an inventory by the court, it has now resulted in a bankruptcy.

Dutch media had been reporting on the brand's financial problems and on the implementation of its cost-saving measures. An unknown number of employees had been expected to be dismissed.

Men At Work has 33 branches in the Netherlands and Belgium and employs more than 400 people. In  2017, founder Marcel van Gelderen acquired the retailer back from Varova Fashion Group, who had a share in the chain since late 2013. The retailer opened its first store in 1995.