Budget goods high street store Big Bazar which went bust at the end of last month will not be taken over and relaunched, the curators have told staff.
Just one company was interested in taking over the chain but they were not prepared to offer enough to take over the stores and inventory, the curators said. This, they said, conflicted with their role to realise the best possible results for those owed money.
The stores will now hold bankruptcy sales with large discounts for shoppers instead.
The tax office, owed tens of millions of euros, will benefit first from what the sale raises.
Five companies had petitioned the court in Leeuwarden to declare the group bankrupt, including former owner Mirage, retail landlord Wereldhave and various suppliers. In total, the company has debts of some €30 million, court documents show.
Big Bazar blamed its problems on the after-effects of coronavirus, high rents and reduced customer numbers due to the economic downturn. The company had around 100 outlets in the Netherlands and Belgium and a workforce of some 1,300.
Last month, domestic appliances group BCC also went bust. It was owned by Mirage Retail Group and had been struggling with high costs as well as strong competition from online shops such as Bol.com and Coolblue
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