The owner, retailer Vidrea Retail, requested a deferred payment this week. In most cases, bankruptcy soon follows, but in consultation with the administrator and house banker ABN AMRO, Vidrea is given more time.

Vidrea operates 72 branches of fashion and lifestyle store chain Miller & Monroe in the Netherlands and is also responsible for supplying 160 stores in Germany. A total of 550 people work at Vidrea.

Fresh start after bankruptcy

Miller & Monroe was created after the restart of the bankrupt fashion store chain Charles Vögele. Vidrea has transformed these stores into a broader concept under a new name for the same target group, with in addition to fashion also cushions, vases and other lifestyle products for the home.

According to a Vidrea spokesperson, the postponement can be extended by a year and a half in consultation with the parties involved. According to the company, there is now sufficient time to restore confidence and continue to build on the chain.

The company claims to have encountered difficulties due to financial problems at the German sister company, which prevented payments to Vidrea.

The company also points the finger at negative media reports last month about financial problems. As a result, several suppliers demanded prepayment and ABN Amro stopped the loan provision.

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