V&D stores shut for up to six weeks as takeover talks continue

The 63 V&D department stores in the Netherlands are to remain closed for four to six weeks to allow the receivers to carry out a complete overview of the stock, Dutch media say on Monday.

Talks are still continuing about a possible buyout of some or all of the branches of V&D, which went bust at the end of last year.

Businessman Ronald Kahn’s Cool Investments and Canadian company Hudson’s Bay have both expressed interest in a takeover of some, or all of the stores.

Puzzle

The delay means the wait goes on for V&D’s 8,000 staff to see if they can keep their jobs. Of those, 3,000 work in the La Place restaurants, which supermarket chain Jumbo has expressed an interest in taking over. Jumbo has already acquired the 60 stand-alone La Place outlets in a separate deal.

The receivers said ‘intensive’ talks had taken place over the weekend between the interested parties. ‘We have made good progress, but the receivers decided in the end that this very complex puzzle cannot be solved yet,’ said a spokesman.