New Store Europe shuts down in Belgium

New Store Europe shuts down in Belgium

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Financial backers have withdrawn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Several financial backers, like Hercules and a bank, have withdrawn their support, which has resulted in credit lines defaulting. 55 Belgian employees will lose their job.

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