Shoe shops having a tough time

Budget footwear retail group Schoenenreus has closed a further 21 shops since it was taken over by investment companies CA Global and GA Europe following bankruptcy in January.

Schoenenreus went bankrupt at the beginning of 2013 but launched a restart the same day with 200 stores. It was declared bankrupt last January after being given court protection from creditors.

Since the takeover, nine shops were closed for lack of custom and a further 12 because the staff left. There are now 100 remaining shops and staff numbers are down from 750 to 420, trustee Antoine Linderhof told news site

Schoenreus is currently holding a sale in order to keep the remaining shops open while the owners endeavour to sell them on. Linderhof told he is currently talking to 28 interested parties.


Meanwhile, shoe chain owners Macintosh, which owns Dutch chain Scapino, on Thursday announced a net loss of €102m in 2014, compared with a year earlier loss of €12m, putting it further into the red.

Macintosh now wants to divest its Manfield and Dolcis shoe shop chains and concentrate on the Dutch and Belgian markets.

It recently put diy chain Kwantum up for sale, despite an increase in turnover in 2013 of 5.5% to €192m.

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