The fashion chain Cassis Paprika has officially been declared bankrupt by the Nivelles court.
The bankruptcy follows the approval of a partial acquisition by Futura Capital Fund. While the Luxembourg-based investment fund has taken over 70 percent of the retailer’s operations, approximately 60 percent of the jobs have been saved.
Cassis Paprika, known for its plus-size clothing, had been facing significant financial difficulties. On October 16, it was announced that Futura Capital Fund would acquire 89 stores, saving 396 jobs. However, the deal also led to the closure of 23 Belgian stores, resulting in the loss of 118 jobs.
Under the new management, led by CEO Paul Claes, the company aims to reposition the Cassis and Paprika brands in the plus-size fashion market.
