The Dutch part of fashion retail group FNG, parent company of Miss Etam, among others, has also been declared bankrupt. The court of Amsterdam has converted the postponement of payment into bankruptcy. According to the company, this increases the chances of a restart.
The FNG Nederland stores, which also include Expresso, Steps, Claudia Sträter and Promiss, will remain open for the time being. The company has between 1,300 and 1,500 employees in the Netherlands.
Due to the bankruptcy, their employment contract has been canceled, but they will still be paid by the UWV benefits agency for the next six weeks.
Locations in Groningen
Miss Etam has four branches in our province: two in Stad, one in Hoogezand and one in Winschoten. The City also has offices Expresso and Claudia Sträter.
There are several interested parties for a restart
According to a spokesperson for FNG Netherlands, there are ‘several interested parties’ for such a restart, although he cannot name any numbers. The aim is to make a restart with the retail company as a whole, but whether this will also succeed is still uncertain.
Problems for some time
Earlier this week, the bankruptcy filing of many FNG units in Belgium was granted. The company had been struggling with financial problems for some time, which were made worse by the lockdown measures. Due to many acquisitions, debts piled up at FNG and the situation became dire when the corona crisis forced shops to close in Belgium.
– Owner Miss Etam applies for a postponement of payment