Type
Bankruptcy
Country
Belgium
Region
Location of affected unit(s)
Sector
Wholesale / Retail
Retail trade
Retail trade
47 - Retail trade

230 jobs
Number of planned job losses
Job loss
Announcement Date
18 November 2013
Employment effect (start)
1 January 2014
Foreseen end date
31 August 2014

Description

The commercial court of Antwerp announced the bankruptcy of the home entertainment retailer Free Record Shop. This results in the closure of 68 shops and the loss of 230 jobs.

As reported, the company is not financially sustainable and there is a possibility in the future that the retail chain will re-launch its operations with a fewer number of shops. 


Sources

  • 19 November 2013: L'Echo
  • 19 November 2013: DH
  • 20 November 2013: 7sur7

Citation

Eurofound (2013), Free Record Shop, Bankruptcy in Belgium, factsheet number 76191, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76191.