Fashion chain Etam, which operates the Miss Etam and Promiss labels, was declared bankrupt on Tuesday.

The high street chain has 200 shops in the Netherlands and these will remain open while the company tries to negotiate a takeover. There are several interested parties, the company says, and a number of them made an offer on Monday. Negotiations will continue for the rest of the week.

Etam asked for protection from creditors two weeks ago when it could not pay its debts.

The Etam group has been running at a loss for years and has invested heavily in developing an online presence. The web shop, distribution centre and head office will also remain open while negotiations continue.