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Founded in 1887 as Vroom & Dressmann, V&D grew to become the largest department store chain in the Netherlands, trading from 67 stores. A late entrant to ecommerce and facing increasing competition on the high street from value fashion retailers such as H&M and Primark, V&D began to struggle in the early 2010s.

The business formulated a turnaround plan which included targeting its property overheads through renegotiating rents and closing unprofitable stores. In 2014, V&D decided to close its Den Haag Leyweg store and outsourced the process to Hilco Capital to manage end-to-end.

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Hilco Capital’s role

  • Deployed a team of retail specialists to manage all aspects of the store closure
  • Provided additional head office support
  • Guaranteed the minimum recovery achieved from selling the retail inventory
  • Funded and supplied additional augment stock at no financial risk to V&D and shared the gross margin achieved with the client
  • Created bespoke, Dutch POS which adhered to V&D’s brand standards
  • Honoured existing promotions which were running in the core estate
  • Sold unwanted fixtures, fittings and equipment in situ


  • 92% sales uplift achieved
  • Guaranteed minimum return exceeded by 52%
  • All unwanted fixtures, fittings and equipment sold in situ through the store closure event
  • Store void period at the end of the sale minimised, reducing occupancy costs
  • Store left ‘broom clean’ on schedule for handing back to the landlord
  • Removed the distraction of operating profitable store closures from the retailer’s management team, allowing them to focus on operating their core business
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