Gordon Brothers Reopens 62 V&D Stores, Providing Turnkey Solution with Guaranteed Results

Press Release

Highlights

- 62 Department stores re-opened to trade to the public:
- Re-established management teams.
- Sourced and recruited thousands of staff.
- Store systems re-engaged.
- HQ and DC Fixtures, Fittings and Equipment auctioned achieving best value.
- All Fixtures, Fittings and Equipment (FF&E) for 62 Department stores sold.
- 62 Department stores handed back to Landlords clear of all inventory and FF&E.
- Hundreds of Concessionaires managed in a collaborative sale.
- Acting on behalf of the appointed Administrators, we were appointed to re-open 62 department stores across the Netherlands and complete the trade-out of all inventory and eligible fixtures, fittings and equipment, including both the HQ and central Distribution Centre. 

Established in 1887 in Amsterdam by Willem Vroom and Anton Dressmann, the renowned and iconic department stores expanded rapidly throughout the 20th century. The company had undergone numerous changes of ownership and rebrands over the years, but was declared bankrupt in December 2015. 

The search for a buyer was unsuccessful and so the doors to the 62 stores were closed, and staff laid off. 

In March 2016, we were appointed to re-open the stores and conduct closing down sales in order to maximise asset recoveries. In just over one week, we re-established all necessary operating systems, procedures, and resources needed - including the sourcing and recruitment of thousands of staff -  negotiated with hundreds of concessionaires and suppliers, in order to re-open the warehouse and stores to customers. 

Furthermore, inventory in transit, including containers of inventory in port, was cleared through customs and brought into stores. The closing down sales run across a four-week period in every store. A high-impact integrated and national marketing campaign, including digital and TV, was executed resulting in an overwhelming response, with towns being brought to a halt as crowds gathered and queued outside stores.