Dutch computer retailer MyCom files bankruptcy, shuts down all stores

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It seems that the dark clouds of financial catastrophe have already engulfed the Dutch computer retailer MyCom. Kijk Up, the company behind the electronics chain has filed for its bankruptcy and its application can be found on the official website of MyCom.

All the stores are closed

All the MyCom stores have been found closed after the latest press release. At the beginning of the year 2019, MyCom had shut down seven stores in the Netherlands including Amstelveen, Arnhem, Den Bosch, Den Helder, Helmond, Leiden and Zeist.

It is not the first time that the computer retailer has applied for bankruptcy. Back in 2015, MyCom had declared bankruptcy but The Phone House owner Relevant Holdings acquired it. Even then, the retail chain closed 19 of its 41 stores.

MyCom was founded by Peter Groenewoud and Marco Heestermans in 1996. In 2016, the founders took control of the company from Relevant Holdings. But, Groenewoud left the company after MyCom was taken over by Kijk Up bv.

Marco Heestermans, general manager of Kijk Up stated, “The current business model is definitely out of date. After the margins have fallen even further in 2018, the traditional purchase of goods for resale and keeping stock is definitely a prehistoric business model.”

On the closing of a credit agreement, Heestermans said, “However, the outcome of this creditors’ agreement was insufficient to be able to proceed responsibly.”

Online store is not functional

MyCom’s web store has also been taken offline. Customers are now unable to place return or repair order for the purchased products. With employee strength of seventy, Kijk Up bv is still considering the revival of MyCom and KijBijMij brands with a viable business model.

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