Macintosh files for bankruptcy | RetailDetail

Macintosh files for bankruptcy

Macintosh files for bankruptcy

Macintosh Retail Group's management has decided to pull the plug and file for bankruptcy. It does not see a future for the company, which owns several distribution formulas.

Shortly after suspension of payment

It had only just received a suspension of payment from the Maastricht court on 22 December and the 's-Hertogenbosch court did similarly for its subsidiaries Hoogenbosch Retail Group BV. Dolcis BV, Manfield BV, Invito BV and PRO Sport BV. Nevertheless, it has now filed for bankruptcy mere days later.

 

Bankruptcy would only apply to the parent company, not to Brantano Belux, Firelle, Dolcis, Invito, Intreza, Manfield, PRO, Scapino and Steve Madden as its subsidiaries will continue to function (for now). The subsidiaries that were given suspension of payment are no exception.

 

"All of Macintosh Retail Group's stores and chains are open and management, alongside all the different boards, is now looking at all options. Those include a sale of the entire group or of each individual division. The employees, debtors and other interested parties' interests are the main concern", management stated in a press release.

 

Brantano, a chain that has not filed for suspension of payment, already revealed it would definitely be able to continue until the end of January with its current means.

 

Lingering problems

Macintosh' problems did not appear suddenly, with a 12.1 million euro loss in 2013 and a 101.6 million euro loss in 2014. The first half of 2015 also resulted in another onerous period.

 

It did manage to limit its losses to 4.4 million euro, but that was only partially because of a one-time 16 million euro boost thanks to the sale of Nea International. The group's shoe chains suffer tremendously from the surge in eCommerce.

 

An attempt to find a buyer for the holding, amounted to nothing.

Questions or comments? Please feel free to contact the editors


Ahold Delhaize launches digital lab in the United States

22/05/2018

Ahold Delhaize’s American division will found a new company focused on digital innovation: Peapod Digital Labs will become a lab for new digital, eCommerce and personalization strategies. 

Carrefour forced to shut down hundreds of Dia stores

22/05/2018

Carrefour has not found a buyer for hundreds of its former Dia stores in France yet. That may force nearly 230 stores to shut down.

Carrefour and Tencent launch high-tech store in Shanghai

22/05/2018

The recently launched ‘Le Marché’ store formula, a first collaboration between Carrefour and Tencent, allows customers to pay with face recognition at unmanned checkouts.

Hoegaarden moves part of production to Vietnam and China

18/05/2018

Hoegaarden experiences strong growth in Asia, but is losing ground in Europe. That is why AB InBev will move part of the production to China and Vietnam: the brewery in Hoegaarden will lower cut its production days by 2 a week.

Holland & Barrett wants vegan stores

17/05/2018

British health chain Holland & Barrett (previously known in the Benelux as Essenza) plans to open completely vegan stores, a trend the chain needs to follow according to CEO Peter Aldis.

Nestlé on a diet: cuts back sugar, fat and salt levels

17/05/2018

Nestlé wants to lower its sugar, salt and fat levels to play into the global demand for healthier food.