On Friday, fashion group FNG officially filed the books of twenty companies before the Mechelen corporate court. According to the company itself, banks eventually pulled the plug on the bank by claiming outstanding loans and blocking bank accounts.
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CEO Paul Lembrechts announced on Friday that FNG will no longer be able to pay wages from 1 August, Christian union ACV Puls reports on Saturday. Lembrechts says he is shocked by the unseen aggressive démarches of the banks. They make it particularly difficult to ensure continuity in the Belgian retail chains, ”the union writes in a press release.
According to Lembrechts, this is a problem for this weekend. “Wages for July were paid on the 25th when we still had access to our bank accounts. We no longer have that access, so we as management can no longer guarantee payment. The banks, which are currently the economic owners of the companies, have informed us on Friday afternoon that they do not want to guarantee wages. We communicated that to the employees. ”
On Monday morning, the corporate court will probably confirm the bankruptcy of the companies. “At that time, a trustee in bankruptcy will be appointed, who will in turn discuss the wages with the banks,” says Lembrechts. “But there is a problem for this first sales weekend.”