GrandOptical files for bankruptcy in Belgium

GrandOptical files for bankruptcy in Belgium
GrandOptical files for bankruptcy in Belgium
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The Belgian optical chain GrandOptical is closing its books. It is in dire financial difficulties and cannot pay wages for January.

GrandOptical, which has about thirty stores in our country, is very close to bankruptcy. At a works council meeting of Retail Optical Stores Belgium BV, the holding company that operates the stores, it was reported that the company is closing its books and that January wages cannot be paid. The chain employs approximately 120 people. The optical chain made a loss of 9 million euros in 2022, a third of its total turnover, according to De Standaard. Figures for 2023 are not yet available, but the bankruptcy filing suggests that these are not hopeful. GrandOptical was part of the GrandVision group together with Pearle until 2021, but was split off this year. As a result, GrandOptical also lost economies of scale, something the company itself points to as an explanation for the difficulties. Wage indexations also have an impact, it is said. Retail Optical Stores Belgium is today part of the Austrian group MPG, just like EyeWish, which opened its first Belgian store in Turnhout last year. The Belgian retail chain is not to be confused with the optical formula of the same name, which is owned by EssortLuxottica and is active abroad (the Netherlands, France, Portugal, etc.).

The article is in Dutch

Belgium

Tags: GrandOptical files bankruptcy Belgium

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