The Mayfair International Shoefashion bankruptcy dates back to July 14, but remained under the radar. This concerns the company above the shoe store chains Sacha (13 branches) and Manfield (four branches) in Belgium.
‘The retail market in Belgium has been in severe weather for years. The market is under pressure from emerging e-commerce, which is decreasing the demand for physical retail, ‘says Cecile Termeer of the parent holding company Termeer Group. ‘The shoe industry is relatively one of the hardest hit sectors. On top of that, the corona crisis and the accompanying measures for such challenging market conditions have made it necessary in Belgium to take a thorough look at the cost structure of physical retail activities. ‘
Termeer says that three days after the bankruptcy with the trustees, an agreement in principle was reached about a possible restart with the shareholders of the Termeer group. Sacha and Manfield could therefore remain active in Belgium. In the coming weeks it will have to become clear how many shops can remain open and how many employees can get back to work.
The webshops and shops in the Netherlands have not been affected. The Sissy-Boy stores, Termeer’s clothing and accessories chain, which is also active in Belgium, are also excluded from bankruptcy.