Scotch & Soda faces second bankruptcy, closes EU stores
The clothing brand Scotch & Soda has gone bankrupt for the second time in a year. Just a year after resuming operations, the company exited the market and closed its stores in Europe. However, its clothes are still expected to be available for sale.
Within a span of 12 months, the brand Scotch & Soda, originating from Amsterdam, faced financial difficulties twice. The European branch of the company was taken over by the American Bluestar Alliance in 2023, but it is now facing financial challenges again. Just a year after the last bankruptcy, the company has once more suspended operations in selected European countries.
This situation led to the closure of 92 stores across Europe. The report stated that the company is withdrawing from markets such as Germany, Belgium, Luxembourg, and Austria, resulting in over 700 people losing their jobs. However, the most significant impact is the collapse of the network of stores in the Netherlands, where 28 Scotch & Soda locations were based, employing around 320 workers.
The brand Scotch & Soda was established in 1985. The new owner has announced that its clothes will not vanish entirely from the market. Their sale is set to continue through another entity in agreement with the brand's owner, Bluestar Alliance.
