Scotch & Soda shutters European stores again; 700 jobs lost
The clothing brand Scotch & Soda went bankrupt for the second time in a year. Just a year after resuming operations, the company exited the market and closed its stores in Europe. However, its clothes are still expected to be available for sale.
11:21 AM EDT, November 1, 2024
Scotch & Soda, a brand originating from Amsterdam, faced financial problems twice within 12 months. The European part of the company was taken over by the American firm Bluestar Alliance in 2023, and now it is dealing with financial difficulties again. Just a year after the last bankruptcy, the company once again suspended operations in selected European countries..
This situation forced the closure of 92 stores in Europe. The company stated that it is withdrawing from markets such as Germany, Belgium, Luxembourg, and Austria, resulting in over 700 people losing their jobs. However, the most significant impact is the collapse of the network of stores in the Netherlands, where 28 Scotch & Soda locations were situated, employing as many as 320 workers.
Scotch & Soda was established in 1985. The new owner announced that its clothes will not completely disappear from the market. Sales are to be continued by another entity in agreement with the brand's owner, Bluestar Alliance.
