They call themselves a progressive universal furniture group, driven by boundless entrepreneurship. However, every company has its limits, as it turns out, because the Dutch court declared bankruptcy yesterday (Wednesday, April 17) for the Vince Group. More than 150 employees in the Netherlands and 85 in China have to fear for their jobs.
The bankruptcy includes Vince International B.V., Vince International 1 B.V., Vince International 2 B.V., and Vince Investment B.V. Also, the sister companies (wholesalers in household furniture) Permepa B.V., Permepa 1 B.V., and Permepa 2 B.V. have been declared bankrupt, as well as the internet trading companies Dimehouse B.V. and Dimehouse 1 B.V.
Owner and director Vincent Kleine of Vince Group responds:
'We got ourselves into trouble with a million-dollar investment that did not yield returns over the past two years. We invested too much of our reserves in this investment just before the macroeconomic factors deteriorated in 2021 and 2022.'
According to him, too much risk was taken at the wrong time. 'Time and chance happen to everyone. A group of investors has already made a binding commitment for a restart. I consider the chance of this not succeeding in the very short term to be minimal. Nevertheless, it is very unfortunate that we have to turn our loss back into growth in this way.'
'Not everyone from the staff will join the restart, however, some will find a place in a sister company. We hope to announce the definitive good news soon,' says Kleine. He expects it to be by the end of next week.
More information:
Vince Group
www.vincegroup.nl