French outlet retailer NOZ has acquired the stock of Belgian decoration chain Casa, that went bankrupt in March.
Record transaction
NOZ took over the stocks of Casa’s 63 shops and two warehouses from the Belgian receivers. With 6.5 million products, it is the largest transaction in the history of the bargain chain. NOZ will sell the products in all of its 339 shops at a 60 % discount from the original Casa price, the company reported in a press release.
The French outlet retailer, with three million customers a month in France, says it is the European leader in stock sales. “Our vision is turn unsold stock from our suppliers into bargains for our customers, in order to contribute to the fight against waste”, is the company’s philosophy.
Casa went bankrupt in early March, after the retailer became unable to pay its debts. The chain operated in eight countries. Meanwhile, the curtain has also fallen in the Netherlands.
