The administrators of BCC have filed for bankruptcy. Due to increasing costs and customer cutbacks, the curtain is now falling for the electronics retail chain.
The administrators of BCC informed the employees on Thursday morning that they have applied for bankruptcy for the electronics retail chain.
BCC had already been granted a suspension of payments last week, and bankruptcy often follows such a situation. Last week, several BCC stores also briefly closed to prevent threatening situations for staff.
The electronics retail chain still has over fifty stores and an online store. BCC employs over a thousand workers. The stores and online shop will remain open for the time being, as stated by BCC on Thursday afternoon. In the meantime, the curators are exploring the possibility of a restart of the retail chain.
Employees who were awaiting their salaries at the end of this month will receive an advance of 250 euros initially, according to the CNV labor union.
In recent years, BCC had already been facing financial difficulties due to increasing personnel, energy, and rental costs. There is also intense competition from online retailers like bol.com and Coolblue. Additionally, consumers have been more cautious with their spending over the past year, which BCC noticed.
Despite restructuring, reducing the product range, and closing stores, the company is now filing for bankruptcy. BCC has been owned by the Mirage Retail Group, the parent company of Blokker, since 2020.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at nicholas.dekramer@economicinform.com
