Dutch brand Lief! Lifestyle will close nearly all of its stores, with its concept store in Sliedrecht as sole survivor of the closing spree. Even its store in Brasschaat (Belgium) will shut down.
Onerous for 2 years
These closures are part of the Kanz Financial Holding acquisition which, according to the curator, only cost 1.4 million euro. Of that sum, 975,000 euro was for Lief! Lifestyle's stock. The acquisition did contain a clause stating nearly all stores would have to shut down as Lief! Lifestyle has been onerous for two years. It is exactly that negative income that had already forced the brand to start selling off retail activities before it went bankrupt.
At the time of the acquisition, founders John van den Herik and Yvonne Woudstra said they had full confidence in Lief! Lifestyle's business model and both will still be closely involved in the brand's development.
Lief! Lifestyle went bankrupt at the start of May, partly because it had to deal with huge costs related to its international expansion with stores planned for Berlin and Beijing. The only foreign store it ever opened was located in the Belgian city of Brasschaat, but that one now has to close as well.