Bankrupt Mexx gets new CEO

Bankrupt Mexx gets new CEO

Bankrupt fashion company Mexx's guardian has appointed Herman Hovestad as its temporary CEO to help guide the company through the bankruptcy process and to talk to possible interested buyers about a relaunch.

Crisis management specialist

Hovestad is a partner at Custom Management and is specialized in crisis management. He was a former Free Record Shoop CEO, during the September 2012-July 2013 period, but he failed to save the entertainment chain from bankruptcy.

 

In the meantime, the guardian will keep trying to save Mexx, which means he may sell parts of the company to other parties. "It is not yet clear whether a purchase is possible and if it is, it remains to be seen how it will be. There will be talks next week", he told Dutch newspaper Het Financieele Dagblad.

 

Mexx was declared bankrupt last week, after several onerous years. The guardian already decided back then to keep all 315 stores open, in order to find a buyer as quickly as possible.

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