Dutch FNG stores have new owner, 43 Belgian stores reopen in February

Martijn Rozenboom has acquired five Dutch chains of the bankrupt FNG group. The Belgian stores, meanwhile, are still waiting for more news about their fate.

FNG Nederland becomes NXT Fashion

Five chains (Claudia Sträter, Expresso, Miss Etam, Promiss and Steps) are saved from FNG’s bankruptcy and are incorporated in the new holding NXT Fashion. Current CEO Richard Turk maintains his position in the new structure. 

Rozenboom is the man behind at least one attempt to save the whole FNG group, believing that the group should be kept as a whole. He may also have been the driving force behind the consortium with former CEO Dieter Penninckx, an attempt that was blocked by the banks.

It is not yet known how many of the chains’ stores will be saved, as the new owner says he believes more in “digital retail” and data. It is very well possible that this means that more stores will close as the focus shifts even more towards e-commerce.

Fear in Belgium

The situation is much less clear in Belgium, where the group will be split into different parts. Competitor Claes Retail Group will acquire three chains (or, more precise: seven CKS stores and the rights to the brands Baker Bridge and Fred&Ginger).

German group Deichmann will turn 43 Brantano stores into locations for its Dutch subsidiary vanHaren, but it still refuses to announce which stores will be saved and which ones will be closed. The liquidators are trying to sell the remaining 94 stores, sometimes for amounts as small as 2,500 euros.