V&D relaunch becomes increasingly unlikely

V&D relaunch becomes increasingly unlikely

It seems department store chain V&D may be heading towards its worst case scenario. Several real estate owners are leaning towards Hudson's Bay, a company that is gunning for V&D's store locations.

Rental companies do not see a future with V&D

When the news broke that Coolcat founder Roland Kahn would be acquiring V&D, it was said that the sticking point would be how real estate owners reacted. They would have to continue their rental agreement with V&D, but many do not see a future for the company and have no faith in how it will turn out. However, these real estate owners may be enticed to signing a deal with Canadian Hudson's Bay.

 

Hudson’s Bay wants to acquire 35 of V&D's 62 locations and use those locations to install its own department store chain there. Galeria Kaufhof is one of its brands and according to Dutch NOS, sources within that particular department store chain claim a rental agreement is almost in place.

 

The biggest problem in the negotiations is that Hudson's Bay can talk to the rental parties themselves, while the guardians and Kahn have very little to say in the matter.

 

Besides, time is running out for V&D as a final decision has to be made by Tuesday. If there is none, then all stores will close on Wednesday and everyone will be fired. The next few days will be very intense for everyone involved with V&D.

Questions or comments? Please feel free to contact the editors


Gerelateerde items

American Sears in major financial difficulties

27/03/2017

In its latest annual report filing, American department store chain Sears doubted its ability to keep operating, which sent the stock plummeting.

Zooplus grows more than 25 % in 2016

24/03/2017

Animal web shop Zooplus' turnover grew 28 % in 2016, compared to the year before. For 2017, it hopes to surpass the 1 billion euro turnover barrier as a first step towards its ultimate goal, which is to surpass 2 billion euro in 2020.

Makro presents new store concept in Belgium

23/03/2017

Makro has relaunched its two stores in Machelen and Lodelinsart, based on its new store concept. The chain wants to position itself around “good food, party and home”, ceding its electronics division to Media Markt. Both are part of German Metro Group.

Counterfeit thrives thanks to eCommerce's growth

21/03/2017

There has been a huge increase in counterfeit sales because of the increased popularity of online shopping. Europol considers the copying of well-known brands to be a structural problem.

“Shopping should be stripped of its worthless moments”

20/03/2017

Retailers face a simple choice today: speed up the shopping experience or slow it down. That is Insider Trends’ Head of Trends, British Cate Trotter’s, opinion. She is one of RetailDetail Congress’ keynote speakers on 27 April.

Colruyt Group launches single loyalty card for every store formula

20/03/2017

Belgian Colruyt Group has introduced the Xtra card and the mobile Xtra app as the single loyalty card for all of its store formulas. The company hopes it will help understand customer behavior better and will build a platform with never-before-seen capabilities.

Back to top