Macintosh Retail Group €140 million restructuring

Overview:

• As part of the bankruptcy proceedings of the Dutch Macintosh Retail Group has undergone a €140 million restructuring that included the sale of the shoe store chains Brantano to BrantNew.
• The buyer is a Belgian private venture of the R&S Retail Group's owner Rens van de Schoor, supported by FNG Group owner Dieter Penninckx and the family holding of Torfs.
• The sale of the stores was done outside of formal insolvency proceedings, through the controlled acceleration of liabilities and enforcement of the creditors' security package.
• Brantano has more than 134 stores in Belgium and Luxembourg and employs in excess of 1,100 people.

Jon Moore - Journalist