The bankruptcy of department store group V&D is having a serious impact on dozens of smaller suppliers, the Telegraaf says on Wednesday.

The group, with 62 stores nationwide, was declared bankrupt on December 31. Talks are now underway on a restart but uncertainty remains for the 10,000 staff and hundreds of smaller firms which supply clothing, bags and accessories.

‘Some firms have lost several hundred thousand euros,’ Patric Hanselman, director of the clothing sector organisation Modint, told the paper. ‘And that is just outstanding bills. It does not include the bills for what V&D has ordered and still has to be invoiced for.’

Profit

Retail strategist Paul Moers told the paper he expects dozens of small suppliers will also have to ask for court protection from creditors this month. ‘If you are a small firm with turnover of €5m and you have to write off €300,000, you have lost your entire year’s profit,’ he said.

Dutch designer Mart Visser, who produces a special collection for V&D, is also owed money. ‘We are waiting until there is more clarity,’ a spokesman said.

Supplier Edwin Lampre is owed almost €100,000 for imported luxury bath and shower products. He told the paper: ‘What really hurts is that they can just burn all their boats behind them.’