Wibra Belgium wants to make a restart with 36 of the 81 stores, the head office in Temse and 183 of the current 439 employees. The management announced this on Friday during a works council, the retail chain reports.
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A judgment is expected on 5 October on the proposal submitted to the chairman of the corporate court of Ghent (Dendermonde division). In case the proposal is rejected, the management will file for bankruptcy, it sounds.
Specifically, it is about 36 stores: in Borgerhout, Merksem, Aalst, Leuven, Geel, Mortsel, Ostend (2), Schaerbeek (2), Liège, Etterbeek, Eeklo, Menen, Tienen, Halle, Herentals, Gilly, Bruges, Sint-Amandsberg, Lokeren, Laken, Genk, Bergen, Kapellen, Uccle, Blankenberge, Jette, Maasmechelen, Estaimpuis, Tielt-Winge, Heusden-Zolder, Haccourt, Mechelen Nekkerspoel, Overpelt and Mariakerke.
Wibra filed for judicial reorganization at the end of July. This was necessary because “Wibra Belgium has been loss-making for several years”, according to the retail chain. “The loss-making Belgian activities were traditionally absorbed and compensated by the other activities of the group, but in the current Covid-19 context this was no longer possible.”
According to Wibra Belgium, the situation is unsustainable due to the losses and the accumulated debt burden.
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