Amsterdam-based clothing brand Scotch & Soda has filed for bankruptcy for its Dutch business. This is a result of “serious cash flow problems” due to lockdowns during the pandemic, high energy prices and inflation, Scotch & Soda wrote in a statement.
“The board of Scotch & Soda had to decide to file for bankruptcy of Scotch & Soda Nederland,” writes the Amsterdam-based clothing brand. The courts in Amsterdam and Haarlem today heard the bankruptcy proceedings for Scotch & Soda Group BV, Scotch & Soda Retail BV, Scotch & Soda E-commerce, Scotch & Soda Holdings BV, Scotch & Soda BV and Scotch & Soda Export BV The bankruptcy filing has no impact on foreign business.
Scotch & Soda is in bankruptcy
The current shareholders and financiers could no longer help the company to move forward. In addition, there was insufficient time to complete the sale of the company to a new shareholder as a financially sound company, the statement said.
The court appointed Jasper Berkenbosch as insolvency administrator. Scotch & Soda Scotch & Soda. “The Trustee will seek a permanent solution that benefits all parties involved,” he said. Scotch & Soda’s 32 stores will remain open as usual until further notice,” the statement said.
Scotch & Soda was founded in Amsterdam in 1985. The brand makes clothing for men, women and children, as well as accessories and perfumes. The collections are sold in more than two hundred stores worldwide and in 7,000 branches in international department stores. The web shop operates in over seventy countries.
This translated post previously appeared on FashionUnited.nl.