On Tuesday it was announced that Esprit had started bankruptcy proceedings for its Dutch branch. According to a statement from parent company Esprit Holdings, the division does not have sufficient resources to continue its business activities. It is still uncertain whether the approximately thirty Dutch stores, mostly franchises, will remain open. Esprit’s Dutch webshop is still online.
The chain has stores in Alkmaar, Hoofddorp, Hoorn, Katwijk, Leiden and Purmerend, among others.
Dozens of countries
Esprit is active in dozens of countries. The company, founded in 1968, went bankrupt once in the past, but then made a fresh start. The company has recently been struggling again. Earlier this year, Esprit requested a form of deferment of payments for parts outside the Netherlands, in order to gain time to reach an agreement with creditors. Esprit stores were also closed in Belgium earlier.
Costs had risen too much for many stores, the Hong Kong parent company announced in May after starting proceedings in Germany. The company also referred to “extreme” cost increases due to years of high inflation and energy prices. In addition, wage costs were said to be too high due to an “inflated” workforce and there were problems in logistics.
