French Orchestra-Prémaman will acquire every Belgian Home Market store and everyone will keep their job, as it has declared today.
38 stores acquired
At the announcement of Home Market's purchase by the French children's clothing group, the purchaser already vowed to keep as many jobs as possible. It came through on that promise, as it has now acquired all 38 stores and will keep each and every one of the 233 employees. Three Home Market franchise stores will keep functioning on their own.
The labour unions will sit down with the board on 21 May to further discuss employees' rights, but job security is already assured, according to De Tijd.
Speed up Belgian growth
Home Market's previous owner, Saint-Maclou, announced in February that he would close every Home Market store in Belgium, but Orchestra-Prémaman stepped in to purchase the stores, even though it remains unclear how much exchanged hands.
"Home Market's acquisition allows us to speed up our Belgian growth", Orchestra-Prémaman's CEO Pierre Mestre said last week. "Both the quality and Home Market's large number of locations perfectly fit our Belgian growth strategy."
Orchestra had already purchased Prémaman in 2012 and Baby 2000 in 2013 and the group is currently active in 40 countries with some 700 stores.