High street retail group Macintosh on Tuesday said it had applied for court protection from creditors after failing to find a buyer for all or part of the concern.
Macintosh operates the Scapino, Dolcis and Manfield shoe chains and is active in the Netherlands, Belgium and Britain. The request for suspension of payments affects the holding company, not its subsidiaries.
After reviewing the sales progress, the company’s management and supervisory boards have ‘come to the conclusion that none of the potential options will result in a viable, comprehensive solution for Macintosh’s current situation’.
‘Filing for suspension of payments is therefore the only remaining option,’ the company said in a statement.
The company said it will work together with the administrators, when appointed, to see if the sale of parts of the company is still a feasible option.
In March, Macintosch announced a net loss of €102m in 2014, compared with a year earlier loss of €12m, putting it further into the red. Macintosh has a total workforce of over 10,400, many of which are part time jobs.
Dutch budget shoe shop Schoenenreus went bankrupt at the beginning of this year.
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.Make a donation