The McGregor group is under commercial court protection

By

Olivier Guyot

Translated by
Nicola Mira

Published
Jun 14, 2016

A few weeks ago, Jeroen Schothorst, the founder and CEO of the McGregor Fashion group, stepped down from his role. He was replaced by the Dutch label's General Manager, Armin Broger.

The latest statements seemed to augur an improvement in the situation of the McGregor group, owner of the eponymous brand and of Gaastra, Adam and ETP, for an overall revenue of about €235 million. However, the new boss seems to reckon that the group is still fragile. McGregor Fashion explained in a press release that it asked for and was granted extended payment terms by the Dutch commercial courts.

The group has revealed that all potential scenarios are possible, including a total or partial divestment of its assets. According to Dutch media, for the time being all of the approximately 200 stores for the McGregor, Gaastra and Adam Menswear brands will remain operational. However, the business outlook for McGregor's subsidiaries is hazy. The group is active in Belgium, Germany, France, Italy, Switzerland and Spain, with a reported total of 1,200 employees and a presence in 3,000 multi-brand stores worldwide.