Nine & Co is the name behind brands like Noppies, Supermom, Alvi, and Esprit for Mums. The company is active in infant and children’s wear, maternity wear and accessories.
Joris Naldin, Chief Financial Officer, Nine & Co. The company is in secret with creditors and must be restructured in order to restore financial health and avoid bankruptcy.
Shops are closed
The nine Dutch and three “loss-loss” Belgian Noppies stores will close in the short term, although it’s not clear when exactly. Sales will continue through the webstore and third parties. According to Naalden, the company wants to focus on online sales for now.
Naldin says about two dozen people will lose their jobs when the stores close. The intention is to give them a place elsewhere in the organisation. “Basically, we are a healthy company,” he asserts. “We think we can continue to do so in the coming years.”
Economically hard times
Nine & Co blames the problems on difficult economic conditions. Many Dutch retail companies are having a hard time. Corona debt, high inflation and consumer caution lead to higher costs and lower turnover.
The consumer is hesitant. We also see a decrease in birth rates And we, as a children’s clothing company, are directly affected by that,” says Naldin. “You can’t suddenly make a baby sweater three times as many.”
Other retail companies are also struggling. The number of bankruptcies is on the rise. For example, the fashion chains Score and Scotch & Soda recently went bankrupt, as did the bike maker VanMoof. Deal chain Big Bazar has also run into trouble in recent months.
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