Mer du Nord almost bankrupt | RetailDetail

Mer du Nord almost bankrupt

Mer du Nord almost bankrupt

Belgian women's fashion brand Mer du Nord has asked the Brussels commercial court for a composition, something the court is now examining.

Restructuring in summer "insufficient"

Mer du Nord already underwent a restructuring in the summer, forcing 22 (of the 100) employees out the door. Apparently, that move did not help keep the company afloat. "We are on the brink of bankruptcy", ACLVB labour union secretary Pascal Freson told press agency Belga.

 

The company was founded in 1988, but has been stacking onerous years. It had more than 1 million euro net losses in 2011 and 2012, but managed to cut down the losses to 108,000 euro in 2013 (on a nearly 18.5 million euro turnover).

 

Restart with ten boutiques?

Mer du Nord has already sold its boutiques in Bruges and Knokke, while looking for a buyer for 2 of its boutiques in Brussels. The goal would be to restart with some 10 own stores, while its collections are also available in a series of multi-brand stores.

 

"There is a lot of uncertainty among the staff", the liberal labour union representative said. He fears that those who will lose their job in the restructuring will not get their severance package at all or at least not at once.

 

No one from Mer du Nord's management was available on Thursday for a comment. 

Questions or comments? Please feel free to contact the editors


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.

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.

Amazon Prime members get additional discount at Whole Foods

17/05/2018

Amazon Prime members will get an additional discount on hundreds of Whole Foods products, the chain it acquired in June 2017. Specialists claim there is a clear strategy behind these discounts.