Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Dutch fashion chain NXT Fashion has announced 116 redundancy in the Netherlands.
NXT Fashion has been declared bankrupt due to the COVID-19 crisis, affecting the distribution centre and the head office.
The fashion stores of NXT Fashion, operating under the names Miss Etam and Steps, are not part of the bankruptcy, but they are at risk too. The stores are temporarily closed due to lockdown measures. NXT Fashion was part of Belgian fashion group FNG, which was declared bankrupt in August 2020. After the bankruptcy of FNG, NXT Fashion came under new ownership.
Eurofound (2020), NXT Fashion, Bankruptcy in Netherlands, factsheet number 102953, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102953.