The story of Belgian-Dutch entertainment chain Free Record Shop seems to have come to an end after a long struggle for survival. The company that owned the remaining Dutch stores has been declared bankrupt, sealing the fate of these remaining stores.
New concept proved unsuccessful
Fresh Entertainment Nederland, the company which owned Free Record Shop in the Netherlands, has been declared bankrupt, news a court spokesperson confirmed to press agency Novum. That means the 36 remaining Dutch Free Record Shop stores will be shut down and 90 people are out of a job.
Barely a month ago, Free Record Shop decided to transform into an entertainment outlet store, but that proved unsuccessful. Nearly one year ago, Free Record Shop filed for bankruptcy the first time, with a restart in August for 47 (out of an original 141) Dutch stores. 36 remained up until today, but they will have to close as well.
Some 70 Belgian Free Record Shop stores had already closed late last year, which may have aggravated the Dutch situation as well, as the lower number of stores probably hindered the group's ability to negotiate decent purchasing terms.