ANPEa Shoeby store
NOS Nieuws•vandaag, 11:16
Fashion store chain Shoeby is avoiding bankruptcy for the time being. The company has reached an agreement with creditors, reports ANP news agency.
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 left with unsold inventory.
The agreement with the creditors was reached through a Whoa procedure. This is for companies that are healthy in themselves, but suffer from a high debt burden. High inflation and scarcity among suppliers make it difficult to compensate for this bad period.
Single payment
According to Shoeby, the agreement offers the opportunity to take a final step in the plan to restructure the company.
Shoeby tells the ANP that he has reached an agreement with creditors “in good consultation”. “Creditors will receive a one-off payment, based on a percentage of their outstanding claim, upon final discharge.”
2024-02-08 10:16:26
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