Mar 20, 2023
Privately held retailer Scotch & Soda, which is based in Amsterdam, has filed a bankruptcy request for its Dutch operations, newspaper Het Financieele Dagblad (FD) reported on Monday, citing a company statement.
Scotch & Soda and owner Sun Capital could not immediately be reached for comment.
The newspaper said the company statement cited “serious cashflow problems” that began during the COVID-19 pandemic and have continued amid high inflation and a consumer spending squeeze.
Scotch & Soda Global BV distributes its clothes and has around 225 retail stores globally, including 70 franchise outlets, according to filings at the Dutch Chamber of Commerce.
The FD reported the company had sales of 342.5 million euros in the twelve months ended May 30, 2022, citing a lawyer who has been appointed curator.
© Thomson Reuters 2023 All rights reserved.