Key information
- Mirage Group (MRG), Blokker’s parent company, is responsible for the household goods chain’s debts, including unpaid rent for commercial premises.
- In addition, MRG is responsible for around €13 million in COVID-related debts incurred by Blokker.
- New curators will be appointed to oversee the sale of the group’s remaining channels, such as Miniso.
The recent bankruptcy of Dutch household goods chain Blokker led to the collapse of its parent company, Mirage Retail Group (MRG). MRG is responsible for Blokker’s debts, including unpaid rent on commercial space, but does not have the funds to cover these costs.
Financial consequences
Blokker’s landlords have asked the court-appointed trustee to hold MRG responsible for unpaid rent. In addition, MRG is also responsible for around €13 million in COVID-related debts incurred by Blokker. Despite recent efforts to sell Intertoys, another MRG subsidiary, proceeds are insufficient to satisfy all creditors.
Previous failures
Previously, Mirage Retail Group owned electronics retailer BCC and Big Bazar, both of which went bankrupt last year. To manage this new bankruptcy, new trustees will be appointed to oversee the sale of the group’s remaining channels, such as Miniso. The parent company says MRG’s bankruptcy will not have a direct impact on Blokker’s bankruptcy proceedings.
Management response
Despite inquiries, Michiel Witteveen, the holding director currently based in China, declined to comment on the two bankruptcies, instead referring to Ynse Stapert, the current CEO, who also chose not to provide a statement.
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