Dutch retail chain Bristol has filed for bankruptcy, marking the end of its 60-year presence in the Netherlands. This decision will lead to the closure of all Dutch Bristol stores and result in the loss of approximately 370 jobs.
"It is with a heavy heart that we have to file for bankruptcy for Bristol BV," said Elise Vanaudenhove, the Belgian CEO of the company. The bankruptcy did not come as a surprise, as the company has faced economic challenges since 2019. These difficulties were compounded by the COVID-19 pandemic and the sharp rise in energy costs.
In recent months, Bristol's situation in the Netherlands worsened. While a takeover candidate was found for the stores in Belgium, similar efforts in the Netherlands were unsuccessful. In June, the company initiated a total clearance sale, but the income generated was insufficient to settle its debts.
Bristol, originally a Dutch shoe chain that has been under Belgian ownership since 1991, will disappear from the shopping streets after more than half a century. Reflecting on the company's closure, Vanaudenhove stated, "Since it became clear that there is no future for Bristol, we have done everything we can to end the story as neatly as possible, and today is the last stage in the Netherlands."
