October 28, 2020

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Rescue plan for Wibra in Belgium | Financial

Rescue plan for Wibra in Belgium | Financial

The announcement does not affect the Dutch branches and employees of wibra. These are “structurally sound” and there are no worries about the future. “Our stores are relevant in the Corona crisis because we are there for people with small wallets,” the spokesman said.

Loss-making

According to Wibra, the chain’s Belgian branches have been making losses for years, but a number of remedies have only just begun to take effect. This recovery was nullified by the outbreak of the coronavirus. Wibra’s stores in Belgium had to remain closed for two months. The losses and accumulated debt now make the situation unsustainable, the company said.

Takeover candidates

If the Belgian Social Court agrees to wibra’s application for restructuring, potential takeover candidates are sought. The company is hoping for a rescue plan that “offers a future in Wibra Belgium to as many shops and employees as possible” and is applying to take over some stores.

The 81 Wibra stores in Belgium employ around 400 people.