Saturday 26 September 2020

Didi is done: no buyer found for high street fashion store

Photo: Depositphotos.com

All 81 branches of the Didi high street fashion chain will close next week after the official receivers failed to find a buyer for the company.

In total, 500 people will lose their jobs because of the bankruptcy.

Although talks had been underway with several prospective buyers, the offers they made were not ‘interesting enough’, receiver Marc Le Belle said. ‘This says something about the current situation in retail.’

Didi, founded in the 1980s, has been holding a bankruptcy sale since the financial problems became public and this will allow some debts to be cleared, Le Belle said.

Didi is the latest in a string of high street groups which have been struggling with the gradual shift to online retail.

The number of shops in the Netherlands has gone down by 11% over the past 10 years, according to figures published by national statistics agency CBS in December.

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