Kids clothes maker Oilily in trouble

Wednesday 01 April 2009

Oilily, the maker of colourful clothes for children and women, is in financial difficulties and has asked for court protection from its creditors.

The aim of the move is to give the group more time to find alternative financing, the Telegraaf reports.

Oilily, which changed ownership at the end of last year, employs 625 people worldwide of whom 175 are in the Netherlands.

The company, launched at the beginning of the 1960s, first got into trouble in the late 1990s after failing to adapt to changing fashion tastes.

In an interview with the Parool last month new owner Age Hollander said the group planned to open new shops in the Far East.

© DutchNews.nl

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