For the third time in two months, FNG has asked to delay repayment to its bond holders. The Belgian fashion group is in dire straits due to an aggressive acquisition policy, and already had its shares suspended.
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Belgian fashion group FNG wants to delay payments of interests and debts of its bonds, causing concerns and speculations as its CEO Dieter Penninckx has suddenly left as well.
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Belgian fashion group FNG (Brantano, CKS, Miss Etam, Steps, ...) fears the coronavirus and its consequences will have a lasting impact on its activities. Not only have its stores closed completely, but now its online turnover is also decreasing.
Belgian fashion group FNG has no intentions to take over its local competitor e5 mode, and the recent commercial partnership between the two is no stepping stone. That is FNG's message in a press release, which however raises more questions than it answers.
FNG, known from Brantano and Miss Etam, is taking over the Swedish Ellos Group, a leading e-commerce player in fashion and interior decoration. A sum of 229 million euros is involved.
Retailers often make their omnichannel models needlessly complicated and expensive. The problem is they start from the wrong assumptions. In his newest book, retail professor Gino Van Ossel makes a case for pragmatism.
Belgian shoe store chain Brantano has opened its first two 'boutik by brantano' stores, in a bid to develop into a more premium brand. The chain wants to create experience stores and expand into clothing as well.
Belgian fashion group FNG has collected 60 million euros by issuing new shares. The new shares will be traded on the Amsterdam Stock Exchange and - for the first time - on the Brussels Stock Exchange as well.
Belgian fashion group FNG hopes it can enter the Brussels stock exchange as early as next month, in order to secure a lot of new investments for the further expansion of its Brantano chain.
While Zalando is a strong multinational player, there has to be room in Belgium for a strong local fashion web shop. Dieter Penninckx, FNG Group's CEO, thinks that his brand Brantano can claim that place.
After a year of successfully integrating its various brands into the newly erected fashion group, Belgian fashion group FNG is now planning to implement two new retail formulas for its Brantano brand, in an effort to cover the entire Belgian shoe market.
British shoe chain Brantano, which only relaunched last year and which was previously part of bankrupted Macintosh Retail Group, has now filed for bankruptcy itself.
Over the next few years, R&S Retail wants to generate a 500 million euro turnover at least, a statement made when it published its pro forma results for the 12-month period leading up to 1 July, with a 475 million euro turnover.
Shoe chain Brantano's British branch, which was part of the bankrupted Macintosh Retail Group until last year, will relaunch thanks to investment firm Alteri.
Three experienced retail personalities will support Brantano, the shoe retailer that was being dragged down in Macintosh Retail Group's downfall: Rens van de Schoor (Miss Etam), Dieter Penninckx (FNG) and Wouter Torfs (Schoenen Torfs).