McGregor Fashion Group dispels bankruptcy worries

London - Although McGregor Fashion Group was recently granted a suspension of payments by the court in Amsterdam, the company stresses that a bankruptcy is not on the agenda.

The Dutch fashion company, which owns the brands McGregor, Gaastra and Adam menswear, found itself in financial trouble and filed for a temporary postponement of payments last Friday. The suspension of payments also includes its subsidiary Adam Menswear, a chain with approximately 50 stores. However, the all the stores, as well as its online store are to remain open as the company is set to work together with the appointed administrator Mark van Zanten to secure the group’s future.

According to van Zanten and the senior management at McGregor Fashion Group, filing for bankruptcy is not on the card, which has “more than enough chances and possibilities” to achieve a full relaunch. “The manager and administrator see sufficient opportunities to secure the survival of McGregor Fashion Group and Adam Menswear,” said the company in a press release. “A bankruptcy of troubled companies currently under a suspension of payment is therefore not on the agenda now.”

McGregor Fashion Group added that the company board and the administrator have closely been studying the financial and commercial situation they are in over the past three days. “Closer examination of the underlying financial and commercial results and numerous discussion have proven that the operational and commercial position of Adam Menswear and the other brands or business units from McGregor is encouraging,” added van Zanten and the board.

The company aims to continue to search for a viable solution and aims to examine all strategic options over the next few days. “In this endeavour, the management and administrator strive for continuity for the popular brands and to preserve as many jobs as possible, while keeping the interests of all stakeholders in minds.”