High street retail chain MS Mode is about to be declared bankrupt, the curators have told website Nu.nl. The company has 130 branches in the Netherlands and all 660 staff face redundancy, the website said.
Curator Frits Kemp told Nu.nl that the company’s debts are increasing even though the shops are being kept open. This is because of a deal with Rabobank which entitles it to absorb the group’s turnover.
MS Mode, which specialises in fashion for ‘curvy women’ was granted court protection from creditors on August 5.
MS Mode is the latest in a string of high street retailers which have gone bust in recent months, including department store group V&D.
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