Fashion entrepreneur Pim Duetz acquires Adam Brandstores
Pim Duetz, owner of Dutch fashion chain Duetz, has acquired menswear chain Adam Brandstores from Rens van de Schoor. Van de Schoor owned Adam, which was formerly part of McGregor Group, since September 2017 when the group went bankrupt for a second time.
According to Dutch newspaper Het Financieele Dagblad, the exact amount of the sale has not been disclosed. Duetz will proceed with 17 of the 43 stores, which will continue as Adam Brandstores after a refurbishment. The chain will focus on brands in the mid-market segment and add labels such as Vanguard, Gardeur and Ledub to its range.
On 7 September 2017 McGregor Group, which included the labels McGregor, Gaastra and Adam, filed for its second bankruptcy.
A few weeks later it was announced that Rens van de Schoor, who previously guided the relaunches of womenswear chains Miss Etam and Promiss, would take over the group with his the investment fund, Du Soutien Beheer. However, in October Van de Schoor cancelled his plans to re-launch McGregor, Gaastra and Adam after discovering that the fashion group’s problems were worse than first anticipated: the group’s administration turned out to be inaccurate and many suppliers did not want to deliver to the company, according to a 18 October report by Het Financieele Dagblad.
As a result of the cancelled relaunch in October, 325 jobs at the various brands of the fashion group were in jeopardy. With the acquisition of Adam, about 35 to 40 Adam employees will keep their jobs.
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