Whoa! V&D in danger of online departure as well
Seven years after department store group V&D went bust and left the high street, the retailer’s online outlet is now also in financial trouble.
The company has now implemented a WHOA procedure in an effort to reach a deal with creditors and stave off bankruptcy, Retail Trends reported this week.
V&D was relaunched as an online brand in 2018 after going bankrupt at the end of 2015 with the loss of 8,000 jobs.
After booking 2021 turnover of €12 million, sales fell rapidly post pandemic, a spokesman for V&D told RTL Nieuws. ‘Physical shops reopened and people have been spending less online,’ he said. High inflation, delivery chain problems and a change of platform also played a role, he said.
Last week V&D announced it would ditch a number of products, such as beauty products, electronics, and concentrate on clothing, shoes and interior decoration.
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