Nearly all of Macintosh Retail Group's shoe chains had to shut down, but there is a glimmer of hope for Scapino after the court of Assen granted it a suspension of payment.
Search for buyers
This means that all stores will remain open, despite the bankruptcy at its parent company Macintosh. Dolcis, Invito, Manfield, PRO Sport and Steve Madden had already been declared bankrupt on Wednesday although all stores will remain open, hoping for a quick relaunch.
Macintosh Retail Group itself filed for bankruptcy on 29 December 2015 and it was unclear whether its chains could survive the chopping block as the board was still feverishly looking for buyers. As none stepped forward, nearly all subsidiaries filed for bankruptcy.
However, the search for possible buyers is not over yet, with several possible outcomes, like selling several division separately. Macintosh Retail Group employed 5,000 people.