Scotch & Soda declares second bankruptcy, shuts 92 stores in Europe
Scotch & Soda, a clothing company from Amsterdam operating since 1985, has declared bankruptcy for the second time. This comes a year after its acquisition by the American entity Bluestar Alliance, as reported by bankier.pl. The European division of the corporation is facing significant issues.
8:57 PM EDT, June 17, 2024
The bankruptcy of the European part of the company was announced in a press release. The company emphasized, "the Scotch & Soda clothing brand had previously gone bankrupt in 2023."
It noted that "the bankruptcy is caused by logistical problems following the re-launch in 2023 and the resulting continuous losses." The brand's stores will cease operations in Germany, Belgium, Luxembourg, and Austria, affecting 92 locations and 721 employees. The impact is most severe in the Netherlands, where 28 locations are operating and employing 320 people.
The company has expressed a desire to resume activities. However, within two weeks, "sales will be continued by another party in agreement with the brand owner Bluestar Alliance."
Custom-made clothing
Bankier.pl highlights that the Scotch & Soda brand "is known not only for its clothing but also for its footwear and accessories. Its characteristic features are the unique design and attention to detail."
Initially, products were handmade and custom-ordered. The company currently sells its products in New York and London.
