**Paris** – Scotch & Soda France, the French arm of the Dutch fashion brand, has filed for receivership, the latest in a series of financial setbacks for the retailer..
The move comes after the company reported significant losses in recent years, with its sales in France falling by more than 20% in 2022..
In its filing, Scotch & Soda France cited the impact of the COVID-19 pandemic, rising costs, and intense competition as factors contributing to its financial difficulties. The company also said it had been unable to secure additional financing to support its operations..
The receivership filing will allow Scotch & Soda France to continue operating while it seeks a buyer or restructuring plan. The company said it expects to continue trading in its stores and online during this period..
Scotch & Soda France is a subsidiary of Amsterdam-based Scotch & Soda, which is owned by the private equity firm Sun Capital Partners..
The company operates more than 200 stores in over 20 countries..
The receivership filing is the latest in a series of challenges for Scotch & Soda. In 2021, the company announced plans to close up to 10% of its stores globally and cut back on its product range..
The company has also been facing competition from other fashion brands, including H&M, Zara, and Uniqlo..
Scotch & Soda’s financial struggles reflect the broader challenges facing the fashion industry, which has been hit by a combination of factors, including the rise of online shopping, changing consumer preferences, and economic uncertainty..
**Additional details:**.
* Scotch & Soda France filed for receivership on January 25, 2023..
* The company reported losses of €15 million ($16 million) in 2022..
* Scotch & Soda France operates 22 stores in France..
* The company employs approximately 200 people in France..
* The receivership filing is expected to last for six months..
* During this period, Scotch & Soda France will continue to trade in its stores and online..
* The company is seeking a buyer or restructuring plan..
* Scotch & Soda France is a subsidiary of Amsterdam-based Scotch & Soda, which is owned by the private equity firm Sun Capital Partners..
* Scotch & Soda operates more than 200 stores in over 20 countries..
* The receivership filing is the latest in a series of challenges for Scotch & Soda..
* In 2021, the company announced plans to close up to 10% of its stores globally and cut back on its product range..
* The company has also been facing competition from other fashion brands, including H&M, Zara, and Uniqlo..
