Due to challenging market conditions in the retail market and disappointing sales, Sissy-Boy ran into financial difficulties. Therefore, the shareholders had decided to find a new owner for Sissy-Boy, who is willing to invest in the future growth of the brand. Despite all efforts to achieve a going-concern solution, ultimately a re-launch was the only possibility.
Early April, Sissy-Boy applied for suspension of payment, and on the 13th of April, Sissy-Boy was able to make a re-launch led by the family business Termeer Groep. Termeer Groep is the parent company of the shoe chains Sacha and Manfield. By adding the fashion- and lifestyle brand Sissy-Boy to its portfolio, Termeer Groep will be able to further strengthen its position in the Dutch retail market.
Lindenaar & Co advised the shareholders of Sissy-Boy in the investigation of the going-concern possibilities, and advised the curator in order to make a re-launch possible. The activities consisted of, among others, compiling an information memorandum, searching for buyers and advising the curator during the re-launch.
Profile Termeer Groep
Termeer Groep is a family business that is active in the fashion industry with its shoe brand Sacha since 1909. Nowadays, the fourth generation heads the company, and in 2016 Manfield also became part of the group.
Sissy-Boy was founded in 1982 by Michael Smit, who opened the first store in Zaandam. Since then, Sissy-Boy has grown into a fashion- and lifestyle brand with 45 stores in the Netherlands and Belgium. The product portfolio of Sissy-Boy mainly consists of (private-label) clothing, home accessories and personal care for women, men and children.