Schoenenreus, a Dutch discount retailer that sells predominantly sports footwear, was declared bankrupt last month but its business was immediately restarted in a slimmed-down version. The company said that its owners, Synergia, Eric Companjen and Paul Schouwenaar, agreed to invest in the company for the next two years. The deal will lead to the closure of 65 out of 206 stores, meaning that about 1,000 jobs are saved but 500 will be lost. The owners want to focus on online sales and the development of Schoenenreus' latest store format, which is generating improved sell-through and better profit margins. This format puts more emphasis on leading sports footwear brands, with little apparel.

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