Dutch label McGregor's Spanish subsidiary goes into liquidation
McGregor no longer has a subsidiary in Spain. The Dutch label, after attempting to restructure its business in the country, where its main client was the El Corte Inglés department store, is about to liquidate its Spanish subsidiary.
The McGregor Fashion Spain and McGregor Retail Spain companies, the latter already extinct, each began insolvency proceedings in 2016. The problems for the Dutch fashion label, present in Spain since 2006, started several years ago.
In 2016, the company decided to focus its distribution efforts in the multibrand channel, in which it managed to serve about 200 stores, following the closure of its own monobrand stores in Spain. McGregor then changed tack, and began to be distributed by the El Corte Inglés department store group. It also moved its offices from Barcelona to Madrid, in order to stay closer to El Corte Inglés headquarters.
McGregor's owner, Dutch fashion group Doniger, went bankrupt in the Netherlands last September. In 2015, Doniger recorded losses to the tune of €26 million, and was at the time rescued by a group of investors comprising some of its former shareholders.
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