The loss-making department store chain Wibra has laid down its books. De Tijd heard that. A few hours earlier, the takeover plan of the management was rejected by the judicial officers.
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The court rejected that. In the afternoon it turned out that the company has put its books down. The three judicial representatives who managed the file now assume the role of trustee.
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Holiday pay
The text of the judgment shows that Wibra Nederland had set as a condition for the takeover that the Belgian nv would pay for the holiday pay, the holidays and the thirteenth month of the 183 employees. There is little chance that Wibra Belgium will be able to handle this financially, so it was not possible to approve the takeover. The court referred to a European directive from 2001, which says that in a takeover the rights of employees must be protected.
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The social liabilities will account for the largest part of the costs for an acquirer. The judgment teaches that Wibra Nederland initially only wanted to pay 300,000 euros for the Belgian company. After negotiations and a correction for stock adjustments, the final offer amounted to EUR 819,000.
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Sparkle of hope
Bas Duijsens, Wibra’s CEO, did not want to let go of the hope of a takeover on Thursday morning. ‘In the coming days we will examine how we can continue in the current circumstances and with a comparable number of stores and employees. We will consult again with the legal officers. If that does not provide a solution, we will consider filing for bankruptcy. That will speed up the handling and enable a restart in the short term, ‘he said.
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Wibra says she understands the concerns of affected employees about their compensation. In recent weeks, the company has used all legal means to properly pay wages and all overtime worked. In the context of the ongoing legal proceedings, Wibra could not offer any additional guarantees’, it says.
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No reserve established
The socialist union BBTK is hard on the management of Wibra. “The fact that shareholders allowed years of accounting profits to drain out of the company without building up a piggy bank for bad times only makes things worse. In addition, Wibra received millions of euros discount on social security contributions over the years. Discounts to create or at least keep jobs. ‘
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Serious error
BBTK is investigating whether the directors can be held personally liable. “We can speak of an apparently serious mistake,” says secretary Bart Leybaert. ‘It arises when one continues a seriously loss-making activity while ignoring the interests of creditors and when one engages in trading activities without having the necessary financial means. That could mean that the employees can recover their financial loss from the directors. ‘
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The Dutch discount chain Wibra – a contraction of Wierdsma and Braam, after the founder and his wife – was founded in 1956 by Jo Wierdsma, the father of the current owner Ronald Wierdsma. According to retail experts, the company is struggling with competition from even cheaper players such as Primark and Action.
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