Blokker’s curators have found a buyer for parts of the household goods store chain, which went bankrupt in mid-November. In any case, this person wants to take over the store formula, the brand name and the online store. The curators do not say who the new owner is. A sales price has also not been announced.
The buyer wants to “rebuild the Blokker formula in the coming period,” according to a press release. He also wants to collaborate with the 45 franchise stores that are owned by independent entrepreneurs who want to continue under the Blokker name and are not involved in the bankruptcy.
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“This is the best possible scenario,” Esther Heinen responds happily. She is on the board of the association of Blokker franchisees and runs a store in Spakenburg. “We need a builder and he is here now. There is still a lot to be discussed, but I am happy that there are now signatures.” Heinen says the buyer will announce more this week. “It is very nice that he immediately made agreements with the franchise association.”
Last week it became clear that the curators have been in contact with dozens of parties about a restart. This also included candidates who did not want to work with the franchisees.
Uncertainty about stores
It is still unclear what the sale means for the approximately 350 stores that fall under the Blokker group itself. It seems unlikely that they will remain in office: property manager Wereldhave, which owns several shopping centers, previously said it would no longer renew contracts with Blokkerwinkels. The buyer will also have to renegotiate lease contracts with other landlords of Blokker retail properties.
In previous bankruptcies of retail chains, brand rights were also sold without this implying the continued existence of the branches. For example, the V&D brand name was sold after the department store chain went bankrupt in 2015. In 2018, an online store was launched under that name, but it turned out to be little successful. Electronics store BCC, a former sister company of Blokker, also still exists in name. BCC.nl now has a price comparator that refers to stores such as bol., MediaMarkt and Coolblue – once BCC’s major rivals.
Shops without stuff
A clearing sale has been going on in the ‘own’ Blokker stores since the end of November. This will be continued by the trustees “in the coming period”. Many items can no longer be found there and, according to those involved, the central Blokker warehouse is now empty. The store furnishings at some of the branches are now also for sale.
The stores will also no longer have any employees after December 31: the contracts of store employees have already been terminated by the trustees. “The employees in the store want clarity about the future of their own store, about their rights in the future, their wages and about the new owner,” the FNV union said in a response. “Many people have already found other work, but there are also those who are waiting to see what will happen.”
Last Friday, the trustees published Blokker’s first bankruptcy report. This made it clear that the company has approximately 93 million euros in debt. For example, there is a loan of 26.7 million euros outstanding with Gordon Brothers. Because that financier has a so-called lien on Blokker’s stocks, the proceeds from the empty sale initially end up at Gordon Brothers. Then it is the turn of the tax authorities, where Blokker has a debt of almost 26.2 million euros, mainly incurred during the corona period.