Casa has been declared bankrupt in the Netherlands, following the earlier collapse of its Belgian parent company. All Dutch stores remained closed on Wednesday, 30 April, after the official bankruptcy declaration the day before.
The bankruptcy had been anticipated since March, when Casa Belgium ceased operations, resulting in the closure of 63 Belgian stores, the head office, and the Olen distribution centre that supplied international branches. A month ago, Casa Netherlands' works council filed for bankruptcy due to unpaid wages and halted deliveries. Although wages were eventually paid, the company has now filed for bankruptcy independently, without consulting the council.
Allard Lamers, chairman of the works council, expressed frustration, stating: 'The staff are appalled. We knew bankruptcy was coming, but we did not expect it to go this way.' He added that the company "should have pulled the plug much earlier."
The Dutch Employee Insurance Administration Agency (UWV) will cover April's wages. Meanwhile, a two-month cooling-off period has been imposed, during which no goods can be moved. The legal ownership of stock is still under review.
Casa also recently sought creditor protection in France, while the future of its branches in Italy, Luxembourg, Portugal, Spain, and Switzerland remains uncertain.
Source: www.retaildetail.eu