Homefashion Group is reportedly planning to close 35 Leen Bakker stores in the Netherlands to avoid imminent bankruptcy. The struggling retailer has since received a capital injection.
Talks with creditors
Home furnishing chains Leen Bakker and Kwantum, both part of Homefashion Group, have been in financial trouble for some time. At the end of August, Leen Bakker was granted protection from creditors in Belgium: a buyer is being sought for the 44 stores. Now the company is also taking action in the Netherlands: the owner wants to close 35 stores in the chain, anonymous sources told Dutch newspaper De Telegraaf. According to the same sources, Leen Bakker recently received a capital injection to pay its bills.
