Just days after their Belgian counterparts, the Dutch constituents of FNG have also been declared bankrupt. According to the fashion group, its chains like Miss Etam, Expresso and Claudia Sträter will stand a better chance of a second life this way.
When the Belgian branches filed for bankruptcy, the Dutch chains settled for demanding protection against creditors, but just days later they still went for full bankruptcy. A trustee, Kees van de Meent, has been appointed to lead the process of rescuing as large a part as possible from the shipwrecked company.
FNG claims the bankruptcy filing has been made "for technical-judicial reasons, mostly", giving the chains a better chance in the future. Several interested parties are said to have made their intentions known, the company says. Talks with them will start shortly.
The chain's stores will all remain open for now, also in order to boost their chances for a quick reboot.