The footwear chains Sacha and Manfield, representing a total of 17 stores and 140 employees, filed for bankruptcy in Belgium. But Termeer, the Dutch company that owns the banners, expects to restart the businesses. The chains’ stores in the Netherlands and their online activity are not affected by the filing.
Termeer noted that the Belgian retail market has been in difficulties for years due to the emergence of e-commerce. The footwear industry was one of the hardest hit by the phenomenon and the coronavirus-related lockdown prompted Termeer to thoroughly examine the cost structure of its brick-and-mortar retail activity in the country.
On July 14, Mayfair International Shoefashion, the unit that manages 13 Sacha and four Manfield stores in Belgium, filed for bankruptcy. Teermer claims that an agreement in principle has been reached with the Belgian administrators for a possible restart of the two banners.