The McGregor Fashion Group has filed for bankruptcy at the court of Amsterdam for eleven out of its more than 50 legal entities. The group holds both the McGregor and Gaastra sportswear brands as well as the corporate wear and promotional textile supplier ETP (Emergo Textile Projects) and the menswear retailer Adam Brandstore.
Whilst ETP professional clothing and the foreign affiliates are explicitly not part of the filing, the following entities are affected: Adam Menswear B.V., CoFi Maastricht B.V., Deno B.V., Emergo Sportswear B.V., Gaastra International Sportswear B.V., Gaastra International Footwear B.V., Gaastra Retail B.V., McGregor Estore B.V., McGregor Fashion Group B.V., McGregor Fashion Group Holding B.V. and McGregor Retail B.V..
As was communicated in a corporate statement, the filing is “intended to maximize the chances of ongoing operations under new ownership and to offer employment opportunity to as many team members as possible”. Both domestic and international investors are said to have considerable interest in the continuation of the company as a whole or parts hereof.
The management, administrators and secured creditors are currently working together to ensure a new start. They hope to conclude the sell within two weeks. All of the group’s stores remain open for business.