Retail chain CASA files for bankruptcy
Belgian homeware retailer CASA has filed for bankruptcy, putting 544 jobs at risk and leading to the closure of 63 stores, its headquarters and its distribution centre in Olen, Antwerp province.
The company, which has been struggling with financial difficulties for years, cited mounting debt and an unfavourable retail market as key reasons for its collapse. Efforts to restructure and secure new investors failed to produce a viable solution.
CASA operates in eight European countries and has more than 2,200 employees. It had been under judicial protection since October 2024. However, negotiations with creditors and potential buyers did not lead to a rescue plan. The protection period was set to end on 12 March.
Market pressures
Despite discussions with 12 potential investors, no agreement was reached for a takeover or financial injection. CASA had previously attempted to stabilise its business by closing loss-making stores and reorganising its headquarters, but continued market pressures made recovery impossible.
The case has now been submitted to the commercial court in Turnhout, which will determine the future of the company’s assets and employees. For now, all Belgian stores remain closed.
The fate of CASA’s international stores remains uncertain, as outcomes will depend on local laws and financial conditions in each country.
Customers in front of a closed CASA store in Ghent, 5 March 2025 © BELGA PHOTO JAMES ARTHUR GEKIERE
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