Amsterdam-based men’s and women’s lifestyle brand Scotch & Soda has filed for bankruptcy in its home country of the Netherlands, citing “severe cash flow issues” caused by the domino effect of the pandemic, the war in Ukraine, and inflation.
Lukoff is “fully cooperating” with attorney Jasper Berkenbosh, who has been appointed to replace’s board in the management of the bankruptcy in the Netherlands, the spokesperson said. He had joined the company in 2019 after a decade as president at Stella McCartney.
Store closures in the Netherlands over the holiday period of December 2021 and January 2022 were “particularly damaging,” causing a direct loss of 20 million euros, it said. Scotch & Soda said it has been struggling since last June, and private equity investor Sun European Partners, which took a stake in the label in 2011, was no longer willing to prop up the company with additional cash.
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