V&D relaunch becomes increasingly unlikely

It seems department store chain V&D may be heading towards its worst case scenario. Several real estate owners are leaning towards Hudson's Bay, a company that is gunning for V&D's store locations.

Rental companies do not see a future with V&D

When the news broke that Coolcat founder Roland Kahn would be acquiring V&D, it was said that the sticking point would be how real estate owners reacted. They would have to continue their rental agreement with V&D, but many do not see a future for the company and have no faith in how it will turn out. However, these real estate owners may be enticed to signing a deal with Canadian Hudson's Bay.

 

Hudson’s Bay wants to acquire 35 of V&D's 62 locations and use those locations to install its own department store chain there. Galeria Kaufhof is one of its brands and according to Dutch NOS, sources within that particular department store chain claim a rental agreement is almost in place.

 

The biggest problem in the negotiations is that Hudson's Bay can talk to the rental parties themselves, while the guardians and Kahn have very little to say in the matter.

 

Besides, time is running out for V&D as a final decision has to be made by Tuesday. If there is none, then all stores will close on Wednesday and everyone will be fired. The next few days will be very intense for everyone involved with V&D.

Questions or comments? Please feel free to contact the editors


Gerelateerde items

23/08/2016

Google will open a store in London where consumers can buy merchandise from famous Youtubers. The Creator Store will open next month and operate out of Google's London offices.

20/08/2016

The world's largest supermarket group, American Walmart, increased its full-year profit forecast on the back of a good second quarter.

19/08/2016

Over the next few years, Hudson’s Bay means to invest a billion euro into its fashion department stores across Germany, the Netherlands, Belgium and Luxembourg, according to Galeria Kaufhof CEO Olivier Van den Bosssche.

16/08/2016

Unilever bought Swedish air purifier manufacturer Blueair for an undisclosed fee. It says the company is the market leader when it comes to indoor air purifying technology.

12/08/2016

Department store chain Macy’s will shut down another 100 stores, about 15 % of its entire store network after it had already announced it would shut down about 40 stores earlier this year.

05/08/2016

GrandVision's turnover, which owns optician chain Pearle among other chains, managed a higher turnover and a higher net profit in the first half of 2016. Its results also beat previous forecasts.

Back to top