The management has both the holding company and the Dutch operating company deferred payment requested at the court in Amsterdam, the company has announced Friday.
“The board regrets for customers, employees, suppliers and partners that it had to take this step.” It employs a total of approximately 2,300 people with MS Mode. In the Netherlands there is such 660.
The chain has almost four hundred stores in the Netherlands (130 branches), Belgium, Luxembourg, Germany, France and Spain.
In all these countries there is also a shop of MS Mode. The decision according to the company being no consequences for companies abroad. The collection is made in the Netherlands.
Potential
The management says still to be convinced of the potential of MS Mode. “With the application for suspension, the company will have time to explore ways to restore the health of MS Mode and continue the operation.”
There are several discussions have been held with parties that MS Mode or parts thereof want to take over as possible. These negotiations are ongoing.
Disappointing results
“It is facing international fashion company with disappointing results due to a negative sentiment in the fashion industry,” said the company.
the mild winter weather played tricks on the company. Thereby MS Mode had to sell part of the winter at lower prices.
Collection
In 2014 and 2015 the chain tried to turn the tide by refreshing the collection, a new store format to introduce and launch a new marketing campaign.
This led according to the company to more revenue and higher margins. The chain will then be able to make a profit in 2015.
“MS Mode turned out, despite these positive developments insufficiently able to absorb the disappointing results of the past period,” said the supervisor.
Cloak Specialist
MS Mode aims to claim to be women with round. In 1964 seller of women’s overcoats Max Abram opened a shop in Rotterdam called Cloak Specialist. Here the subsequent abbreviation M & amp came;. S from
Later this changed to MS mode, because department store chain Marks & amp; Spencer brand name M & amp; wanted to enter S in Europe
Since 2011, the chain part of Excellent Retail Brands, the retail branch of Cool Investments, where Coolcat, America Today and lingerie brand Sapph covered.. Cool Investments was founded by entrepreneur Roland Kahn.
Previously MS Mode fell below retail group Maxeda. The former parent company include the Bijenkorf, V & D and Hunkemöller
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