Shopping at V & D today go for at least several weeks closed, but a restart has not yet been overcome. The trustees of V & D and landlords of retail asked three days reprieve to continue to negotiate a restart or takeover by fashion entrepreneur Roland Kahn
photo : Dutch Height
Last night at 24:00 was the deadline for the negotiations. According to the spokesman of trustees, there has been much progress in negotiations with the landlords, but are not all the pieces in place. This would involve a complex combination of financing and agreements with landlords.
According to a source close to the negotiations involved the problem lies mainly in funding. Kahn would have great difficulty to get money from his bank ING. The property owners have made it good proposals on the table in a large majority.
Disputed properties
Last weekend should be clear whether the owner of the fashion chains Coolcat, MS Fashion, Sapph and America Today, with whom the trustees already negotiating for a while exclusive leases for at least 35 V &, D-premises dragged. The V & owners; D buildings were waiting for a clear future plan for the department store and the guarantees Kahn can offer landlords
of this depends on whether the real estate players again with V & D and Kahn wanted to try or maybe go into business with the Canadian department store group Hudson’s Bay. Which has in recent weeks property owners approached to get retail or leases.
Poker Game
in the poker game to the premises Canadians showed last Wednesday anyway know in the Netherlands want to open some sixty stores, whether the V & amp; D buildings now get their hands or not. That provoked another reaction from the trustees who do not just let sidelining.
They let out Thursday that Kahn, using his investment vehicle Cool Investments, is making progress in the negotiations on the approximately 45 stores he wants to start and finance has almost around. And on Sunday unconditional agreement must be on ‘the principles for at least 35 locations.
Shops close
(HH)
De 62 V & D stores starting today will close the doors, says the spokesman of the trustees. The six weeks that the stores would be kept open since the bankruptcy on New Year’s Eve, have expired. The staff will be in the last two days inventory stocks.
The shops also remain closed for several weeks, as from Wednesday, the eight thousand employees of V & D no longer contract. Even if there is a restart, then according to the spokesman surely last as long before enough staff in place again, and the store will be stocked again.
from Wednesday the state Kahn free staff to offer another contract, says Martijn den Heijer of CNV Services. “Maybe people should take into account slightly lesser contracts than they used to, but I hope you do not want to sit any new owners for a dime at ringside. Then the staff already at the restart demotivated, ‘says Den Heijer.
year V & amp; D
January 19, 2015
V & D announced to cut drastically the costs. Fifty of the 450 staff at the service center in Amsterdam losing their jobs, and the group calls a pay cut of 5.8% for all workers. Landlords also have to accept a rent reduction, says V & D. The latest reported figures indicate then that V & D saw sales decline by 4% in 2013 to € 619 million The company is listed on the period a loss of € 42 million V & D also presents its new Chairman:.. John der Ent, from the Etam Group.
February 9, 2015
Banks, owner Sun Capital, lessors and tax authorities agree on a rescue plan. The financiers provide € 40 million in capital, Sun Capital invests € 60 million V &. D will receive a tax cut of € 40 million sum is € 24 million to the credit of landlords, the remainder that of the tax authorities
..
March 21 2015
V & D has waited too long to intervene, says board chairman Van der Ent. He stressed in an interview with The Associated Press that the post salaries V & D lies heavy on the stomach. “We have all our people need, but they are too expensive. Suppose I should now take completely new staff, I’ll be cheaper 20%. ” In February the court a unilateral reduction of the V & banned D-earnings
May 8, 2015
V &. D says it again in 2017 writes black figures. CEO Van der Ent stressed that the department store group will never be a prize fighter
July 10, 2015
Sun Capital says further € 47 million in V &. D to be pumped. The investment has thus since they V &. D took over in 2010 Maxeda, already € 212 million invested in the company
September 1, 2015
The department store group announces that it will lay off four hundred people. At the headquarters disappear hundred jobs, the shops have three hundred employees away
December 23, 2015
The Amsterdam court grants V &. D deferred payment. The suspension is necessary because Sun Capital no longer wants to help out financially. V & D has less twisted by the warm weather in autumn
December 31, 2015
V &. D is declared bankrupt
.
2016
January 6, 2016
The Works of V & D wants to avoid venture investor Sun Capital plays a role in a possible restart of the department store group. Media reports of “several dozen” interested parties which V & D would continue downsized
January 8, 2016
Hudson’s Bay, a large Canadian retail chain. , interested in the locations of the bankrupt V &. D
January 12, 2016
Suppliers of V & D threaten to take action against the trustees. Who would go out of line by reimbursing providers only 70% of the purchase price with a maximum of 70% of the sales of their products. Three days later, the trustees turn the system back
January 18, 2016
The trustees announce that they both V &. D and La Place different receive detailed bids. With a handful of parties’ will be further discussed
January 26, 2016
The curators of V &. D and La Place announce that they have agreed reached on the sale of the La Place restaurants outside the V & D department stores in the Brabant supermarktconcern Jumbo.
February 5, 2016
for a restart of the bankrupt V & D appear to be two sides in the race: the Canadian Hudson’s Bay and the Dutch retail entrepreneur Roland Kahn, the entrepreneur behind Coolcat, America Today and Sapph. Kahn denies the conversations.
February 6, 2016
A day later it appears the truth. The trustees of V & D and the investment vehicle of Roland Kahn announce that they enter into exclusive negotiations for the acquisition of V &. D
February 11, 2016
Hudson’s Bay is committed to open in the Netherlands, approximately sixty stores, or the Canadian company is now the premises of the bankrupt V & D can buy it or not. So say sources close to the negotiations. The company already has an agreement with some of the V & amp owners; D buildings, but also owners of other properties
February 15, 2016
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