This article was last updated on September 21, 2023
Table of Contents
BCC files for bankruptcy
BCC employees heard this morning that bankruptcy has been filed for the electronics chain, reports RTL Z. Last week, BCC already applied for a deferment of payment, which is often a prelude to bankruptcy.
Administrators to assess possibility of a restart
Now that bankruptcy has been filed, the administrators in charge of the case can look at a restart. BCC said it is facing “continued and increasingly tough market conditions.” In the FD, owner Witteveen says that BCC’s revenue model is no longer correct. “Rent, wages, and energy have all become more expensive. To make money, you simply have to make higher margins, but major suppliers refuse to move in that direction.”
Customers of the electronics group were already faced with closed doors at some locations last week. It is not clear whether they will still receive their ordered products. Nothing is known yet about what will happen to the approximately one thousand employees and the more than fifty physical stores.