The management and the administrator of the McGregor group said that they filed for bankruptcy at a court in Amsterdam on June 27 for eleven out of more than 50 entities belonging to the Dutch owner of Gaastra, the nautical brand. The eleven entities include Gaastra International Sportswear, Gaastra International Footwear and Gaastra Retail. The decision was apparently taken in order to facilitate the continuation of their activities under one or more owners. The group, which reportedly managed annual sales in the range of €235 million, said last month that it started holding talks with potential investors and buyers for all or parts of its business after it obtained court protection from creditors. McGregor acquired a majority share in Gaastra in 2000. The McGregor group runs 150 stores, 80 of them in the Netherlands and Belgium. The owners are the group's two founders, Jeroen Schothorst and Ben Kolff, the NIBC Bank and the investor Marcel Boekhoorn. The management and administrators said on June 27 that they were expecting to round off the sale in two weeks.

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