The Dutch retail stores sector has finally turned the corner, Dirk Anbeek, CEO of Wereldhave, a large Dutch investment group which develops medium-sized shopping centres in northwest Europe, told the Financieele Dagblad on Wednesday.

Anbeek said the growing economy, low level of bankruptcies and the fact that retailers themselves are again investing in the growth of their businesses all contributed to the turnaround. ‘Both C&A and Hema have developed new concept stores which are opening in our shopping centres.’ he pointed out.

However, the retail stores sector is only now recovering from a deep slump. In the past five years nearly 20% of Wereldhave’s tenants have been declared bankrupt. Anbeek said Wereldhave succeeded in reducing vacancies to a minimum during the difficult years. Rents are now increasing and the vacancy rate throughout the country is only 4%, he said.

Bankruptcy

Seperately, womens’ clothing chain Witteveen Mode was declared bankrupt on Wednesday, the Parool has reported. The chain which operated nearly 100 shops has had problems for some time. It is uncertain wheher the shops will remain open, the paper said.

The company has a workforce of some 4,000.