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Privately held retailer Scotch & Soda, which is based in Amsterdam, has filed a bankruptcy request for its Dutch operations, newspaper Het Financieele Dagblad (FD) reported on Monday, citing a company statement.
Scotch & Soda and owner Sun Capital could not immediately be reached for comment.
The newspaper said the company statement cited “serious cashflow problems” that began during the Covid-19 pandemic and have continued amid high inflation and a consumer spending squeeze.
Scotch & Soda Global BV distributes its clothes and has around 225 retail stores globally, including 70 franchise outlets, according to filings at the Dutch Chamber of Commerce.
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The FD reported the company had sales of €342.5 million in the twelve months ended May 30, 2022, citing a lawyer who has been appointed curator.
By Toby Sterling; Editor: Jan Harvey
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