Dutch retail chain Handyman, supplier of accessories and spare parts for electrical appliances, declared bankruptcy in The Hague on Wednesday.
Despite having 50 stores with roughly 100 employees in the Netherlands and 11 stores employing 23 persons in Belgium, Handyman has been unable to combat falling sales and rising costs.
Its Dutch and Belgian branches are two separate legal entities falling under the Elka Pieterman Group.
In a press statement, Elka Pieterman blamed the bankruptcy on a loss of sales due to online trade coupled with skyrocketing expenses brought about by the onset of the war in Ukraine. “Regrettably, regardless of the efforts to turn things around, Handyman was forced to declare bankruptcy due to consistent negative results,” the group lamented.
In the Netherlands, a trustee has been appointed to determine the best way to revive business. In the meantime, the company's stores will remain open, while its 14 franchises are not affected by the bankruptcy proceedings.
In Belgium, Handyman, established since 1974, operates in Antwerp, Mechelen, Saint-Nicolas, Hasselt and Brussels-Capital Region.
