The problems at the fashion chains McGregor, Gaastra and Adam are so great that new owner Rens van de Schoor has already given up an attempt to rescue the group three weeks after he took over.

The group, which has already twice declared bankruptcy, has a lot of management problems and many suppliers have cut off delivery. ‘It’s really down to the question of whether there will be electricity in the shops tomorrow,’ Van de Schoor told the Financieele Dagblad on Tuesday.

Moreover, the timing of his rescue attempt was misjudged, he said.

The failed rescue attempt means the loss of 400 jobs, 325 of them in the Netherlands. ‘We are going to ask one-third of the staff to stay on on a temporary basis,’ Van de Schoor told the paper.

The FD said it is surprising that ex-banker Van de Schoor has thrown in the towel over McGregor because he rescued many fashion industry retailers in the past, including  Miss Etam, Brantano and Promiss.