The bankruptcy administrators are holding the director of Big Bazar liable for the retail chain’s collapse, the Financieele Dagblad reported based on the fifth bankruptcy report. The Amsterdam court declared Big Bazar bankrupt last year after financial problems and increasing complaints about unpaid bills. But bankruptcy requests submitted by angry landlords and suppliers continued to mount, and in September 2023, …
Big Bazar is set to close 20 loss-making stores and is seeking rent reductions for 20 other stores. If property owners decline to renegotiate lease agreements, Kooistra suggested that Big Bazar may withhold rent to open discussions. “Some landlords and suppliers have started to think alongside us.” He admitted that communications with landlords have not always been optimal but added, …
