Pixmania borders on the edge of bankruptcy | RetailDetail

Pixmania borders on the edge of bankruptcy

Pixmania borders on the edge of bankruptcy

According to inside sources, the commercial court in Nanterre will declare online retailer Pixmania bankrupt on 14 January, as it is apparently unable to pay its employees at the end of the month.

Looking for a buyer

German Mutares, Pixmania's parent company, has apparently decided to file for bankruptcy based on the advice of the guardian. Pixmania, with a 20 million euro loss in 2015, had been placed under guardianship on 27 October 2015 and he has been looking for possible buyers and means to save a lot of costs.

 

Potential buyers have until 8 January to enter a bid, which will then be discussed during the commercial court's hearing on 14 January. Allegedly, there are several dozens of interested parties.

 

Marketplace transformation failed

Mutares tried to save Pixmania by transforming it into an online marketplace with room for third party sellers, but that has not had the desired effect according to its parent company.

 

Pixmania, founded in 200, was a pioneer in France's online sales market. It represented a 806 million euro turnover in 2010, but competition from major parties like Amazon and Fnac caused its turnover to collapse. In 2014, Pixmania's turnover barely reached 295 million euro, with a sizeable loss on top of that.

Questions or comments? Please feel free to contact the editors


Amazon now delivers packages to car trunks

25/04/2018

From now on, Amazon delivers orders to the trunk of your car. The retail and technology giant has given its Prime subscribers access to get packaged delivered to the trunk of their car, without any additional costs. The service is currently limited to the United States.

Dutch Beate Uhse division not bankrupt after all

05/04/2018

German Beate Uhse’s Dutch subsidiary has not gone bankrupt after all and will continue its activities in both Belgium and the Netherlands. The company revealed the information itself after bankruptcy rumours surfaced.

Amazon often cheaper than Dutch competitors

03/04/2018

Products that are available on both Dutch web shops and Amazon.de, are cheaper at Amazon in about half the cases. Not only do Dutch stores compete with Amazon.de, which ships to the Netherlands, but there are also rumours that Amazon.nl and Amazon.be will soon become more active.

Trump targets Amazon

03/04/2018

President Donald Trump has apparently targeted Amazon as his new enemy. He feels the retail giant is taking advantage of the U.S. Postal Service, something he wishes to remedy with a series of new rules and legislation.

Amazon undisputed ruler of French online world

29/03/2018

Amazon is the undisputed leader of the French online world thanks to a 5.6 billion euro turnover and a 19 % market share. According to Kantar Worldpanel, the overall online market in France was worth 30 billion euro in 2017.

Retail is main driver of artificial intelligence innovations

29/03/2018

Retail companies will invest about 2.76 billion euro in artificial intelligence this year. According to research firm IDC, they are the main driver for AI worldwide, ahead of the banking sector.