Macintosh Retail Group asks for suspension of payments

Macintosh Retail Group asks for suspension of payments

Macintosh Retail Group, which owns shoe chains Brantano, Manfield, Invito and Dolcis, has asked for suspension of payment. The company, led by Belgian Kurt Staelens, announced this before the stock exchange opened this morning.

Just about bankrupt

"The current situation is very disappointing for parties involved, in particular for our employees, suppliers, banks and shareholders who have loyally supported our company in these trying times.", Macintosh wrote in a press release.

 

A spokesperson for the Maastricht-based company told BNR Nieuwsradio that it is "bankrupt" and it has to wait for a court to appoint a guardian who will have to see if there are any possible buyers for its subsidiaries. Macintosh employs 5,500 people. The request for "deferred payment" only deals with the holding itself, not with the subsidiaries.

 

550 stores for sale

The news broke only a day after Macintosh revealed it would sell its remaining 550 Belgian and Dutch stores without any high profit expectations. Prior to that, it had already sold Brantano's British branch and its furniture chain Kwantum.

 

The group will have to drop its ambition to strategically fall back onto its Benelux shoe sales now that it has basically filed for Chapter 11. It is also bad news for several Dutch retail families (like those that own chains Zeeman and Blokker) that invested into Macintosh only last year.

Questions or comments? Please feel free to contact the editors


Lucas Bols drunk in love with Passoã

16/11/2017

Liquor manufacturer Lucas Bols’ turnover has grown 23.8 % in the first six months of its broken fiscal year, to 48.8 million euro. Aside from 0.5 %, the entire growth is thanks to liquor brand Passoã’s integration.

"Hunkemöller prepares IPO"

16/11/2017

According to financial press agency Bloomberg, investment company Carlyle Group ordered Rothschild bankers to prepare an IPO for Hunkemöller.

Italian Food-focused theme park opens in Bologna

16/11/2017

Fans of Italian cuisine have to head to Italian Bologna, where Eataly World opened, a theme park focused on Italian pasta, wine, pizza and more.

CEO Bernard Deryckere will leave Alpro

16/11/2017

Bernard Deryckere, who was the man behind Belgian dairy company Alpro’s international success, will leave the company after sixteen years. Apparently, he will leave because of differences of opinion with its new owner, Danone.

Ahold USA trials robot in Giant Food Store

15/11/2017

Ahold USA is currently trialing a robot in a Giant Food Store. Its job is to detect dangers and then ask for assistance. He can also point out empty shelves and check prices.

India is promised land for Belgian apples and pears

14/11/2017

India is turning into the promised land for Belgian fruit farmers. It is already Belgian apples’ most important non-European market and Belgian pears are also promoted throughout the country.

Back to top