Retail group Blokker Holding posted a loss of €180m last year as the cost of reorganisations pressured group results.
Blokker recently announced a major overhaul of its operations in an effort to restore profitability. The revamp includes closing stores and selling all its operations which do not carry the Blokker name.
‘More than half of our net loss is due to the restructuring process which we carried out in 2016, Blokker chief executive Caspar Meijer said.
Blokker began overhauling its high-street Blokker stores over a year ago and has been attempting to shore up profitability since 2014. The switch to the new look Blokker will continue in popular locations, as will the online shop blocker.nl.
The Xenos, Big Bazar, Leen Bakker and Intertoys brands will be sold off and the Marskramer chain will become a franchise operation. In total, some 1,900 jobs will go over the next two years, mostly at the Marskramer and Blokker chains. The company’s distribution centre in Mijdrecht will also close down.
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