At least a third of Casa‘s Dutch stores is going to disappear. A deal with competitor Xenos about the sale of eight stores was made public earlier, but now it is revealed that more stores are to close.
More to close
The Belgian interior chain currently has 34 shops in the Netherlands, but a least a dozen are closing or being sold. Xenos, which used to belong to the same group as Casa, has agreed to taking over eight stores. Remarkably, these are locations that Xenos itself had sold to Casa six years ago.
However, Dutch media now report that several more shops are closing their doors. One of the two stores in Eindhoven is stopping, while the branch in Westfield Mall of the Netherlands is already closed. Branches in Helmond and The Hague are also closing, RTL Z found out.
Losses
Casa has passed from the hands of the Blokker family to Dutch investor Globitas since 2021. The chain invested heavily in e-commerce during the coronavirus pandemic, but its latest annual figures (for 2022) show a loss of 4.5 million euros on net sales of 289 million.
CEO Vincent Nolf says sales were under severe pressure from the war in Ukraine and lower consumer confidence due to inflation and commodity and energy prices. The Netherlands would account for 24.5 million euros in sales, almost half as much as its home market Belgium.
