In a dynamic startup environment, success and failure are a part of an ecosystem. All it takes is rather a cautious approach in identifying and mitigating the risks that can help you beat the odds. We’ve all heard about various startups that fail within their first five years, some by choice and some by unforeseen circumstances. Sooner or later, the catastrophe will strike.
In this regard, Dutch sports e-tailer Athleteshop has recently filed for bankruptcy due to abysmal service and debt problems. Founded in 2011 by former ice skater Yuru Solinger, Athleteshop offered around 15,000 products in 15 countries with150-200 people working for the firm. Furthermore, the company had opened an 8000 sqm warehouse last year, its second warehouse in 2.5 years time.
Poor delivery services
The Athleteshop suffered from poor delivery services, where postal service companies including PostNL and DHL refused to deliver the products for the e-retailer. In addition to it, the company endured insurmountable debt of around €5 million as well, which resulted in empty storage spaces in stores, since suppliers are no longer delivering to Athletheshop.
On the other hand, an attempt was made by an investor to rescue the company if in case 85% of the creditors would be ready to accept a delayed payment till 2019. However, the majority of them declined the offer.
Complaints and low ratings
The company also received numerous complaints and worst ratings from the customers on Facebook and other review websites. These complaints include not delivering on time, later refunding for returned product and much more.
On Atheleshop official website, they’ve mentioned the following details:
“On the 2nd July 2018 the District Court Noord-Nederland locatie Groningen, Kingdom of the Netherlands, adjudicated banktrupt: the private limited company Athlete.nl B.V., (Athleteshop/Athlete) appointing mr P.T. Bakker as trustee (BENK Advocaten Groningen, the Netherlands).
We kindly request that you submit any claims relating to the bankruptcy of Athlete.nl B.V., which also operates under the name Athleteshop, via this link. If you are a supplier, you must state that explicitly, including any rights such as retention of title. A cooling-off period of two months will begin for this bankruptcy as of 2 July 2018.
Unfortunately, we are unable to provide any guarantees for your claim, but we are able to inform you that no deliveries are taking place at this time. We kindly request your patience in waiting to see how the process plays out and ask that you do not attempt to make contact by telephone unless it is highly urgent.”
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