Retail chain Shoeby is avoiding bankruptcy for the time being. The family business with headquarters in Rosmalen has reached an agreement with creditors. The fashion stores therefore remain open.
The retail chain has approximately 240 branches, the vast majority in the Netherlands and some in Germany. The company was in danger of going under due to the corona measures, which forced stores to close. Shoeby was therefore left with unsold stocks.
Due to the agreement with the creditors, the retail chain does not have to repay part of the debts. According to Shoeby, it is one of the measures of a recovery program to make the company healthy again after the corona pandemic. What exactly the recovery program entails remains unclear.
Good consultation
The family business says it has reached an agreement with creditors ‘in good consultation’. The arrangement was approved by the judge on Wednesday.
According to the Brabant company, which opened the first store in Den Bosch more than forty years ago, ING and Van Deursen Beheer will continue to finance the company.