After 129 years, the curtain has finally fallen for V&D. Because the receivers could not complete a relaunch, the shop is ceasing to exist, resulting in 8,000 employees losing their jobs.
Just before Christmas, Vroom en Dreesman applied for a moratorium, which often means the first step towards a final bankruptcy. A restart was in the air for a long time, but the most appealing takeover candidate, Coolcat boss Roland Kahn, gave up on Tuesday 16 February. The demise of V&D immediately broke a sad record by entering the books as the largest bankruptcy ever in the history of Dutch retail. There were 62 stores in total.
The end came quickly
Last Monday, the shops remained closed pending negotiations with candidates for a relaunch. On Tuesday, these negotiations collapsed and it was the end of the story. At the beginning of 2016, the receivers were still hopeful and were "100 per cent sure" that a relaunch would take place. However, negotiations with the candidates who were in the race for V&D's department stores ultimately saw the deal abandoned out of fear and time constraints.
Jumbo
Jumbo has acquired restaurant chain La Place. However, they will have to look for new premises as the La Place branches in the former V&D department stores cannot be continued.
Editorial LogistiekProfs
Photo: defotoberg / Shutterstock.com
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