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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.
