Consumer electronics retailer Harense Smid, which was declared bankrupt on Monday, is to make a restart, enabling 300 out of 550 workers to keep their jobs.

The company has been restarted in a deal with Mikro-Electro, which operates the It’s Electronics and Mikro-Electro chains.

Harense Smid, which has 30 outlets, traces its roots back to the early 19th century but has been hit hard by the arrival of major chains such as MediaMarkt. The restart keeps 20 of the chain’s shops open.

Several Dutch retail chains have already gone bankrupt in recent months, including music retailer Free Record Shop, computer reseller iCentre, shoe retailer Schoenenreus and cosmetics group Sabon.