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


25/05/2016

Steve Rowe, British Marks & Spencer's CEO, has unveiled a new strategy that should help revitalize clothing sales. He intends to lower prices for more than a third of its product range.

19/05/2016

Animal specialist Tom & Co opened its 10th French store in Hazebrouck. The chain currently has 3 stores of its own and 7 franchise stores in France.

17/05/2016

After the failed merger with its competitor Staples, American Office Depot is considering the sale of a part of its European activities after it had already restructured its European division in 2015.

17/05/2016

Canadian Hudson’s Bay, North America's oldest company, has officially announced its plans to come to the Netherlands. Its goal is to service the entire country thanks to 20 department stores it intends to open in the future.

13/05/2016

Luggage manufacturer Samsonite aims to double its turnover in the next four years. One of the ways to do so, is the acquisition of its American competitor Turni Holdings at a cost of 1.8 billion dollar (1.6 billion euro).

11/05/2016

German Metro Group had to allow a 1 % turnover drop in its second quarter, because of its international activities. The German market provided the company with a turnover boost, but that was too small to compensate fully.

11/05/2016

The intended merger between American office supply giants Staples and Office Depot is off the table. The American Federal Trade Commission had already labeled it a bad idea and the court now confirms that decision.

06/05/2016

According to the European Central Bank, the eurozone economy is still growing, in its recovery following the crisis. The ECB does point out however that there are still several factors slowing down growth.

04/05/2016

The European Court of Justice has given the European Union permission to outlaw all menthol cigarettes from 2020 onward. Poland and Romania had filed a complaint against that future ban, but to no avail.

02/05/2016

On his blog, American retail expert Bob Phibbs has focused focused extensively on The Loop, RetailDetail's retail experience platform in Antwerp.

02/05/2016

French Group Casino has sold its Big C Vietnam to Central Group from Thailand for one billion dollars, in an attempt to lower its overall debt.

02/05/2016

Bénédicte Ficq, a lawyer from Amsterdam, wants actual prison sentences for tobacco manufacturers. Even though they deliberately harm smokers' health, currently they usually are only fined, she complains.

Back to top