EMCC European Monitoring Centre on Change

Witteveen

Company/Organisation:
Witteveen

Geographic Location

Country: Netherlands

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.71 - Retail sale of clothing in specialised stores
Number Employed: 150
Group: Vidrea Retail

Employment Effects

Announcement Date: 28-11-2019
Planned Job Reductions min: 150
Type of Restructuring: Bankruptcy

Additional Information

The ladies' fashion chain Witteveen was declared bankrupt on 28 November. The reason for this bankruptcy seems to be a conflict with the parent company of Witteveen. Earlier this year the parent company went bankrupt due to financial problems at another fashion chain (Miller & Monroe) under the same parent company. Witteveen seemed to be unaffected by this bankruptcy, however due to a conflict in opinions about certain financial claims this has changed. Due to this conflict Witteveen was unable to properly operate its shops and this led to large losses, which in the end led to the bankruptcy of Wittenveen itself.

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