After saving MS Mode from bankruptcy, entrepreneur Roland Kahn decided to keep 155 of the fashion chain nearly 400 stores. The surviving stores are located in Belgium, the Netherlands, Luxembourg and Spain.
Stores open now, will remain open
70 % of the Dutch store network (95 stores) will survive and just over half of the Belgian store network (24 out of 46 stores). Spain will keep 32 stores and Luxembourg 5. Every store that is currently open, will still be around in January 2017. Prior to the bankruptcy, MS Mode employed nearly 2,300 people, but it is not clear how many will keep their job. Those that work in stores that will survive the cut, will keep their job after the relaunch.
MS Mode is currently property of American stock seller GA Europa, but it has sold all of its old stock and has restructured the company. Starting January, former owner Roland Kahn will take full control through its investment company Coolinvestments. It is unclear how much he paid for MS Mode’s acquisition, but it is unlikely the price was that high as very few parties were interested. Estimates are in the vicinity of 12 million euro.
