Dutch Fashion brand Mexx bankrupt | RetailDetail

Dutch Fashion brand Mexx bankrupt

Dutch Fashion brand Mexx bankrupt

An Amsterdam judge has declared Dutch fashion brand Mexx to be bankrupt. Its 315 stores will remain open for the time being, the receiver says.

"Keep stores open to find buyer"

The judge has appointed Frits Kemp as the receiver, who said he aims to keep the stores open as long as possible. That should enable the stores to sell its remaining stock and (hopefully) attract buyers more easily.

 

The Dutch chain has 315 European stores and 1,500 employees, who will have to wait anxiously to see if the chain will live on after its bankruptcy.

 

Struggled for a while

The chain has struggled for a while: since founder Rattan Chadha left (in 2006), turnover has halved to some 500 million euro according to fd.nl. Part of that turnover drop can be explained because an increased number of store closures.

 

Another reason for Mexx's decline was the growing influence on e-commerce on sales visit numbers. Still, the chain shut down its web shop earlier this year, reasoning - at the time - that it would soon release a new web shop that would be much improved.

Questions or comments? Please feel free to contact the editors


Analysis: six reasons major brands are under pressure

17/05/2018

Global brands are increasingly struggling to ward off smaller, local companies. Some even believe the brands’ golden age has passed. That may be presumptuous, but there are some noticeable trends.

Coca-Cola is still strongest global brands, but local brands are on the rise

17/05/2018

Coca-Cola, Colgate and Maggi are the most popular FMCG brands worldwide, according to a Kantar Worldpanel report. Local brands are stealing market share however.

HelloFresh increases turnover forecast

14/05/2018

Mealbox delivery service HelloFresh has increased its 2018 forecast: the German company now expects a 35 % growth, up from its previous 30 % increase forecast. Positive results in the United States, which has become the company’s main market, were the main reason for its adjustment.

Brussels bio chain Färm keeps expanding

14/05/2018

Färm, a bio store chain from Brussels, is supporting a planned expansion with a crowd funding campaign. The chain aims to open its biggest store so far in the North of the European capital, extending its services with a bakery in the store. 

More profit from smaller volumes for AB InBev

09/05/2018

Despite AB InBev’s beer sales dropping 0.2 % in the first quarter, the Belgian-Brazilian beer giant did generate a turnover increase and a gross profit above expectations.

Ahold Delhaize mainly grows online

09/05/2018

Belgian-Dutch merger group Ahold Delhaize has had a decent first quarter, thanks to a Belgian turnaround, a good performance in the United States and strong online growth. Unfavourable exchange rates did spoil the party somewhat.