Another retail chain is in trouble. Fashion chain Shoeby with its head office in Rosmalen can no longer pay the bills. To prevent the chain with about 200 branches from having to close its doors, attempts are being made to reach an agreement with creditors.
This is evident from a letter from Shoeby to creditors and suppliers. It is written that without an agreement the curtain can fall within a few weeks. The chain is not recovering sufficiently after the lockdowns during the corona crisis, and the high inflation is on top of that.
Shoeby wants to reach agreements with all creditors via a so-called WHOA procedure. With this relatively new arrangement, a court can decide that new agreements on repaying debts automatically apply to all creditors, even if not everyone has agreed. This should essentially save healthy companies that have run into problems due to exceptional circumstances.
“This process has no consequences for our customers. Shoeby will continue with everything they have come to expect from us,” says marketing manager Janneke Schoenmakers.
Founded 42 years ago, Shoeby from Rosmalen has more than two hundred stores and hundreds of employees. The family business presents itself as a retail chain where customers receive a lot of personal style advice.
Other stores in trouble
Last week, the corona debts and inflation became too much for Doek Retail. This company operates dozens of Vero Moda, Vila and Pieces branches. It filed for bankruptcy because it cannot repay the tax debt accumulated during the corona period.
Last week, the bargain chain Big Bazar tried to get extra time to make the company healthy through a similar procedure. The court denied this request on Monday.
Earlier, fashion chains Score and clothing brand Chasin’ went bankrupt. Scotch & Soda also collapsed, but that company made a restart.