Shoe shop chain Schoenenreus in financial trouble

Budget shoe retail group Schoenenreus has filed for court protection from creditors, citing falling sales and competition from online shops.

The company has 200 branches in the Netherlands and Belgium and a workforce of 1,500. Schoenenreus is one of the biggest shoe retailers in the country, building up its position over the past few years with a string of takeovers.
According to the Financieele Dagblad, group sales reached €80m in 2010 and 2011.
The high street stores and online shop will remain open pending a possible restart, the company said.

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