Nine Cassis clothing stores will close, resulting in 67 job losses, according to a special works council. The affected stores include Kuurne, Sint-Niklaas, Wijnegem, Brussels (Anspachlaan and Basilix), Tournai, La Louvière, Wavre, and Liège (Belle-Ile). The staff has been informed not to come to work until the bankruptcy is officially declared on May 27.
The closure of these stores was not unexpected as a judicial reorganization procedure had already been initiated due to financial issues. The reorganization plan for the stores under the Paprika and Cassis-Paprika brands has been approved by the court, allowing them to continue under a single brand name. The focus moving forward will be on women’s fashion in larger sizes (from size 40 to 58).
Despite the closures, CEO Geoffrey Baudts stated that approximately 600 people, or 90% of the workforce, will be able to keep their jobs. The ACLVB union confirmed that nine out of ten jobs have been saved. However, there are still concerns about the company’s financial situation and the remaining debt of around 28 million euros.
Last summer, the Walloon Region provided financial support to the clothing chain. It is unclear if they will be involved in the restart. The exact amount of loss is not known. The union plans to closely monitor the company’s financial situation in the future.
