Suit retailer Misura Satoria takes over bankrupt The Tailormates
Dutch suit retailer Misura Sartoria has taken over the inventory and goodwill of bankrupt tailoring specialist The Tailormates for €57,000.
According to media reports, Misura Sartoria was already negotiating the takeover before the bankruptcy of The Tailormates, but decided to cancel the plans just before the tailoring specialist went into liquidation in November.
After four years of operations, the Tailormates shut down in November. According to media reports, the tailoring specialist had accumulated a large debt in recent years with a loss ranging between €130,000 and €185,000. Furthermore, the womenswear line that the retailer launched in September of this year did not prove successful.
Upon its launch in 2014, The Tailormates received growth capital via two crowd funding campaigns. With the first campaign the retailer reached an investment of €50,000 to expand and improve its online activities. With the second campaign, The Tailormates achieved a growth injection of €75,000, which focused on the launch of its concept ‘Traveling Tailors’ and its rollout with a franchise formula.
In total, 183 people invested in the retailer via crowdfunding. According to RTL Z, the investors will not receive any returns following the bankruptcy.
Misura Sartoria, which currently operates stores in Rotterdam and Amersfoort, announced in a press release that it will open a flagship store at the former The Tailormates branch in Amsterdam in January 2019.
The new store, located at Amsterdam’s business district Zuidas, will offer bespoke tailoring services for men such as the Ceremonia wedding suit line. In addition to tailored apparel, the store will also carry a range of formal and casual collections for men and women, including jackets, shirts, blazers, footwear and accessories.
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