Euro Shoe Group Protected by Creditors, Allows Search for Bristol Buyer to Begin

The Antwerp corporate court, Hasselt department has initiated proceedings for the judicial reorganization of Euro Shoe Group, which operates 117 Bristol shoe stores in Belgium. The company will be protected from creditors until September 7, with the aim of transferring all or part of the company’s activities under judicial authority, as stated by the court.

Euro Shoe Group, established as a family business in 1925, has been facing financial difficulties for several years. Factors such as store closures during the pandemic, increasing rent and energy costs have contributed to the company’s crisis. Despite a brief period of operational profit in 2022, the company’s situation deteriorated again in the autumn of 2023. Euro Shoe Group employs around 170 people at its head office and warehouse in Beringen, while its stores are managed by self-employed individuals.

To assist in this process, the court has appointed three settlement experts whose task is to find a buyer or buyers for the assets and activities of Euro Shoe Group. They will oversee the sale of stock and ensure that the proceeds are used to pay wages and creditors. Euro Shoe Group applied for judicial reorganization at the corporate court in Hasselt with the hope of maximizing employment retention through the procedure.

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