V&D owner plays hardball | RetailDetail

V&D owner plays hardball

V&D owner plays hardball

V&D's owner, Sun Capital, has claimed it will no longer invest anything into the department store chain if other parties are unwilling to make financial sacrifices as well. The move has put pressure on the employees, among others.

All parties should help cut costs

Dutch V&D has been struggling for quite a while and the owner has asked several parties to help cut costs, like the proposal to withhold rent for a few months and lower its rental fee. Employees also have to lower their wages, the company feels.

 

It is still willing to invest, but it has now demanded other parties share the responsibility in helping the company survive.

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