Mixed feelings for the employees of the bankrupt FNG group. While three chains are saved by local competitor Claes Retail Group (CRG), things are looking bleak for the group's biggest chain, Brantano.
CRG (currently owning JBC and Mayerline) has purchased three stores from the bankrupt Belgian retail group FNG: CKS, Fred & Ginger and Baker Bridge. The group says this deal enables it to build on its local stronghold: "We are very happy to welcome these brands into CRG", CEO Bart Claes said. "We believe in the strength of a local stronghold and we have the ambition of offering these beautiful brands a sustainable future within a family-owned group that is financially healthy."
Less good news has emerged from FNG's flagship chain Brantano: as Dutch Scapino backed out after making the strongest bid, it now looks like the German Deichmann group will be victorious in the battle for Brantano. That comes at a price: rumours say that not even half of the over a hundred Brantano stores would be saved - and those who remain, will have to make do with fewer employees, Belgian newspaper De Standaard has learnt. To make matters worse, the chain's distribution centre would also be closed and orders would be fulfilled by its counterpart in the Netherlands.