The Dutch-based Macintosh Retail Group has sealed an agreement to sell all its 24 Scapino stores in Belgium as part of its “Rebalancing for Future Growth” program, but it will keep the chain's stores in the Netherlands. The terms of the transaction, which is set to take effect on Nov. 3, have not been disclosed. The buyer, DFM Participaties, will use the Belgian network of Scapino stores, which was too small for Macintosh to generate profits, to launch The Fashion Market, a new discount retail chain for fashionable clothing, shoes and accessories, in Belgium and the Netherlands. The first refurbished stores will go into operation in October.

Topics