The Belgian branch of 3 Suisses has been declared bankrupt, after the sales period started with a disastrous 30 % decline in turnover. Eleven jobs are under threat.
Even sales don't help
Owner Domoti filed for bankruptcy after the summer sales had a disastrous start. A search for a new owner for the famous brand name is ongoing, but the name is generally linked to old-fashioned paper catalogues which were rendered outdated when e-commerce came into being. A large restructuring process cost 160 people their jobs in 2011, while 2014 saw the last paper catalogue and the acquisition by German group Otto.
While in Germany Otto was successful in making 3 Suisses a major competitor of Zalando, they too decided to get rid of the company after just two years. The new buyer, Domoti, has seen the losses mount and turnovers decrease: from 120 million euro in 2015 to 29 million a year later.
The future of 3 Suisses' French branche is as of yet unsure, but both the French and the Belgian website remain open for the time being. According to newspaper L'Echo, the employees still know nothing about the management's plans. The Belgian caretaker however has stated that he hopes the activities will go ahead for a few months, so the existing orders and returns can be dealt with without a problem.