River Island to close branches in the Netherlands and Belgium
British retailer River Island will be closing its branches in the Netherlands and Belgium following several years of poor sales, according to Dutch media reports.
The retailer announced the decision last week during a staff meeting, Dutch industry publication Retail News reported. A source told the media that the Dutch branches of River Island have not been profitable for a while and that bankruptcy could be on the horizon.
River Island currently operates stores in the Netherlands in the cities of Amsterdam, The Hague, Groningen and Rotterdam. The source could not confirm when the Dutch stores would close, but said that the Antwerp branch plans to close its doors in either April or May of this year.
Retail News reported that River Island will issue an official statement later this week.
River Island entered the Dutch market in 2006 and opened its first store in Amsterdam. Later on, a Dutch online store and additional branches followed in The Hague, Groningen, Rotterdam, Rotterdam Alexandrium and Alkmaar, the latter two having already closed their doors. The retailer entered Belgium in the fall of 2010.
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