The Antwerp court declared the bankruptcy of Leen Bakker Belgium on 3 December, bringing a definitive end to the company's physical retail operations in the country. In total, 29 of the 43 stores will close their doors. Earlier, 14 branches had already been taken over by other retail organisations. As a result of the bankruptcy, around 250 employees will lose their jobs.
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Last week it was announced that a restart is still possible for some of the Belgian stores through takeovers by, among others, JYSK, Dreamland, Dreambaby, Swiss Sense, Chaussea, and Zoli99. A limited number of jobs could also be retained at these locations. However, the vast majority of employees will lose their positions. The liquidator will decide in the near future whether the remaining stores will remain temporarily open.
Loss-making activities
The Belgian operations of Leen Bakker have been under heavy pressure for some time due to difficult market conditions in the retail sector. The company has been running at a structural loss in recent years. A recovery plan was initiated earlier this year to improve results and ensure continuity. Although the plan showed some progress, it ultimately proved insufficient to keep the company afloat.
On 14 August this year, proceedings under judicial authority were therefore initiated. In the months that followed, intensive efforts were made to save as many jobs as possible. This eventually led to the acquisition of 14 store locations, where new retail formulas will be implemented.
Online sales remain active
Interestingly, Leen Bakker Belgium's webshop remains active, allowing consumers to continue ordering online for the time being. However, the physical stores will disappear from the Belgian market for good.
In a statement, the company expressed its gratitude to Belgian employees for their commitment and loyalty during this difficult period. At the same time, Leen Bakker emphasised that the bankruptcy only concerns the Belgian operations. Dutch stores and Kwantum's activities in the Netherlands and Belgium are not affected by the proceedings.
More information:
Leen Bakker
www.leenbakker.be
