The plus-size clothing retailer Cassis Paprika has been partially acquired by Futura Capital Fund.
This was announced by the company.
The chain has been struggling for some time, facing challenges similar to many other retailers. As a result of the take-over, 23 stores in Belgium will close, leading to 118 job losses.
Futura Capital Fund, based in Luxembourg, will acquire 70 percent of Cassis Paprika’s operations, including 89 stores in total. This acquisition will allow 396 employees to retain their jobs.
Of the stores being acquired, 37 are located in Belgium, employing 189 people. The rest include 14 stores in France, 21 in the Netherlands, 12 in Germany, and 5 in Luxembourg, according to the company.
With the acquisition, Cassis Paprika will relaunch under a new management team, with CEO Paul Claes at the helm. His goal is to reposition the Cassis and Paprika brands as leading names in plus-size fashion.
