Belgian relaunch continues to haunt Wibra: million-euro bill looms

The legal fallout from Wibra’s 2020 bankruptcy in Belgium continues to haunt the retailer. According to the latest annual report, a ruling by the labor court in Liège could cost up to 4.1 million euros. The lawsuit dates back to 2023 but is still ongoing today.

Restart after one day

Wibra Belgium filed for judicial reorganization in 2020 after the COVID-19 crisis put further pressure on its operations, which had been losing money for years. The chain wanted to reduce its Belgian network from 81 to 36 stores. The commercial court rejected the reorganization plan at the time, and bankruptcy followed shortly thereafter. Just one day later, Wibra relaunched with 36 stores. All 439 employees initially lost their jobs, after which 183 employees were offered new employment contracts.