Dunkin’ Faces Bankruptcy: Trustee Optimistic About Restart
Derk van Geel, the trustee for the bankrupt Dutch coffee and donut chain Dunkin’, believes there are “good chances” for a successful restart. He anticipates that this “complex process” will take several weeks. Despite the bankruptcy, all branches will remain open, and donuts will continue to be produced.
A judge declared Dunkin’ bankrupt in the Netherlands earlier this week. The company employs around 400 people. While the trustee acknowledges that layoffs are unavoidable due to the bankruptcy, he is working hard to retain as many jobs as possible.
In a statement, Van Geel announced that he has initiated a takeover process for the company. Interested parties are encouraged to reach out to him. The trustee will also investigate the reasons behind the bankruptcy.
Dunkin’ Donuts has been a familiar name in the United States since the 1950s, known for its chocolate-covered and brightly iced donuts. However, the chain’s history in the Netherlands is relatively short. Attempts to expand in the 1990s failed, leading to the closure of all five locations by 2000. In 2017, a store opened in Amsterdam under the name Dunkin’ Donuts, followed by the opening of several other branches.
Last year, the Dutch and Belgian branches were acquired by a subsidiary of the Van der Valk hotel group, which obtained the rights to use the Dunkin’ brand from American Inspire Brands. Van der Valk International aimed to expand the chain and attract younger customers to its hotels.
Initially, the chain planned to open over 150 branches in the Netherlands, but those growth plans have not materialized. The number of branches has decreased recently, and Dunkin’ now faces stiff competition from other chains such as Starbucks, Cinnabon, and AH to go.
Related topics: