The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Goods In Specialised Stores 47.71 - Retail Sale Of Clothing In Specialised Stores
290 jobs Number of planned job losses
Announcement Date
29 August 2024
Employment effect (start)
1 September 2024
Foreseen end date
30 September 2024
Description
The German subsidiary of Scotch & Soda, a Dutch fashion brand, will close all its nearly 40 stores in Germany by the end of August 2024, leading to the loss of 290 employees’ jobs.
The company filed for insolvency in June, following the recent shutdown of operations by the parent company in the Netherlands, which is also insolvent. The rights holder of the brand, a private equity fund based in the USA, showed no interest in continuing the brand. According to the insolvency administrator, talks are ongoing with a fashion retailer regarding a possible takeover of locations and staff by other fashion chains.
According to the provisional insolvency administrator, most employees are expected to be dismissed in September 2024.
Half of the chain's stores are located in Baden-Württemberg and North Rhine-Westphalia.
Eurofound (2024), Scotch & Soda Retail, Bankruptcy in Germany, factsheet number 201539, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201539.
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