Dutch fashion chain Mexx declares bankruptcy

According to a report by the Dutch Financial News on December 5, affected by the economic downturn, the Dutch fashion chain Mexx declared bankruptcy. The company has 315 stores in 50 countries in Europe, including franchise stores and stores in shopping malls. Mexx closed its flagship store in Amsterdam last year. According to reports, although Mexx has declared bankruptcy, the store will continue to operate until the inventory is sold out and a new buyer is found. Mexx was founded by Rattan Cadha in 1986 and was later taken over by Amsterdam’s LizClaiborne Fashion Group. In 2011, Gores Group purchased 82% of its shares for 85 million euros. The company currently has 1,500 employees, 500 of whom are in the Netherlands.