After the bankruptcy of its Norwegian parent company, the Belgian and Dutch branch of store designer New Store Europe have also shut down.
Financial backers have withdrawn
New Store Europe's turnover dropped to 177 million euro last year, with a 11 million euro company loss to boot, which is why the store designer has failed to keep things afloat.
Several financial backers, like Hercules and a bank, have withdrawn their support, which has resulted in credit lines defaulting. 55 Belgian employees will lose their job.