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McGregor is latest Dutch high street store group in financial trouble

McGregor is latest Dutch high street store group in financial trouble

AMSTERDAM: Clothing group McGregor, which also includes Gaastra and Adam Menswear among its labels, has been given court protection from its creditors after running into financial difficulty.

The company has a workforce of 1,200, most of whom are in the Netherlands. The chain has 150 shops, of which 80 are in the Netherlands and Belgium and all will remain open for the time being, the official receiver said.

He is now assessing which parts of the company could be sold off. The McGregor group was formed in 1993, although some of its brands are older, and was listed on the Amsterdam stock exchange until 2006.

The company produces mid-price range classic leisure and sports wear. A string of Dutch high street brands have run into trouble in recent months and the V&D department chain group went bankrupt at the end of last year.