Business · Companies · 5 hrs ago
Bruna owner Audax gets temporary protection from creditors
Audax, the company behind Bruna and ReadShop, is struggling to pay its bills and has received temporary protection from creditors from a Dutch court.
The company has until November 17 to discuss its future with creditors, while its stores remain open.
Audax has faced debt problems for years, including unpaid amounts owed to the tax authority and the UWV, and it also owes money to suppliers.
Some suppliers have held back deliveries until they are paid, leaving stores without products on time.
The company also faces disagreement within its management, and its chief executive, Paul Sies, was suspended last month.
Audax says its stores are viable, but the company could collapse if it cannot find a solution.
It expects to need at least two months to reach an agreement, and the court will decide at a hearing on November 17 whether to grant more time.
Audax, the parent company of Bruna and ReadShop stores, has received temporary protection from creditors.
The court-ordered cooling-off period gives Audax time to negotiate with creditors, and its stores will remain open during it.
Audax says it currently lacks enough funds to pay all its bills.
The company has struggled with debts, supplier problems and disagreements within its board.
A court hearing on 17 November will determine whether Audax gets more time.
- Who
- Audax, the parent company of Bruna and ReadShop stores.
- What
- It received temporary protection from creditors to negotiate new agreements.
- When
- The protection was reported on 6 November 2026; it lasts at least until 17 November.
- Where
- Not stated.
- Why
- Audax says it lacks enough funds to pay all its bills and needs time to reach agreements with creditors.
This story does not have two clearly opposing sides.
Audax reached agreements under which some debts were written off.
Audax suspended chief executive Paul Sies over differences about how decisions are made.
Audax received a court-ordered cooling-off period to negotiate with creditors.
A court hearing is due to decide whether Audax will receive more time.
- Protection period
- At least until 17 November
- Employees
- Almost 800 work at Audax
- Bruna stores operated by Audax
- 91
- Bruna franchise stores
- 190
- ReadShop franchise stores
- 136
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