Known for its home furnishings and decoration shops, the Casa group announced on Wednesday that it was filing for bankruptcy with the company courts in Turnhout, Belgium. This decision means the closure of 63 shops, the end of operations at the Olen distribution centre and head office, and the loss of 544 jobs.
Casa International has been in serious financial difficulty for several months, and has been unable to find the funds needed to ensure its recovery. “Solutions were sought right up to the last minute, but no external financier or strategic party was willing to commit,” said the company’s management. Despite a legal reorganisation initiated in October 2024 and the closure or sale of 46 international shops, the efforts made did not stabilise the company.
Casa was unable to withstand competition from online retailers and low-cost brands such as Action and Temu. Already weakened by the post-covid crisis and inflation, the chain has also fallen behind in the digital arena and has been unable to stand out from competitors such as Ikea, Hema and Flying Tiger. Against this backdrop, a takeover of the chain seems unlikely, even if its locations could be of interest to other players. The Belgian government, together with the regional authorities and the social partners, “will do everything in its power to support the workers affected,” declared the federal minister for employment and the economy, David Clarinval.
In Luxembourg, the Casa group operates several sales outlets in Strassen, Esch-sur-Alzette, Bettembourg, Foetz, Pommerloch, Huldange, Mersch and Sandweiler. “These shops will remain open. For the moment, we can’t draw any conclusions about what will happen there,” said CEO Vincent Nolf in an interview with VRT NWS.
Casa Logistics, which was responsible for supplying the shops, has also filed for bankruptcy. Without an active supply chain, the survival of the Luxembourg shops could be threatened.
The Casa group is also present in the Netherlands, France, Italy, Switzerland, Spain and Portugal and employs 2,230 people.
Contacted by Paperjam, Casa had not responded at the time this article was published.
This article was originally published in .