V&D Group has asked the Amsterdam court to grant it suspension of payment, which has subsequently been given. The company had to take this drastic step after the American owner, Sun Capital, refused to invest any further.
Web shop shut down already
Not only department store chain V&D, but also the La Place restaurant chain will get the suspension of payment as they are both part of the same company. The stores will still be open, but the web shop will shut down already. Orders will no longer be delivered and customers can also no longer return their orders, which may be a very nasty surprise for customers who had placed Christmas orders.
"We hope to give our employees, customers and suppliers as much clarity about the future of V&D and La Place as soon as possible. Alongside the owners, we will examine all options for the future", CEO John van den Ent told RTL.
Owner Sun Capital had previously promised to keep investing in V&D, but new setbacks have made the owner go back on its promise. Dixons' shop-in-shop disappeared and warm weather in November and December resulted in lower sales.
Normally, V&D would have presented a new concept, with an increased focus on women, but it remains to be seen whether it will ever see the light of day.