June 8, 2009

This Week In Bankrupt Dutch Moppetwear Company News

So what's up with Oilily since the Dutch bankruptcy trustee shuttered the high-end kid clothing company's local stores and then sold off/handed back the trademarks to the Olsthoorn family, who founded the company, and who retained a significant minority stake through its entire, mismanaged demise, you wondered [or maybe not? who knows?] DT's Dutch Retail Correspondent Jan is on the case:

  • Turns out there are 200,000 pieces of crazy kid's clothing sitting in a warehouse in Oldenzaal, quietly going out of style while the trustee decides who to liquidate them to. Oldenzaal is one of Europe's insider hotbeds of fashion desi--actually, it's the capital of B.F. Holland. I had to zoom back five times on Google Maps before I recognized a single nearby city. [fashionunited.nl]

  • Unlike the Oilily parent company, which was quickly sold to its longtime banker and his wife before suddenly declaring bankruptcy, the 33-store US Oilily subsidiary was successfully sold to its management team, led by director Jeroen Bik, and survived intact. [fashionunited.nl]

  • Until now, when the 25-store-and-counting chain declared Chapter 11. [textilia.nl]

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