Dutch bookstore chain Polare has been officially declared bankrupt, according to the curator, Kees van de Meent. Stores will remain open for the time being, NL Times reported, adding that the bankruptcy was a requirement for the Employee Insurance Agency (UWV) to pay overdue wages. Employees are guaranteed to receive their wages for a maximum of six weeks.
The bookstores, which had been closed since late January, reopened February 19 and are for sale separately or in clusters. NL Times noted that although "the supplier stopped deliveries, the stores reopened as it is easier to sell stores that are open." Polare locations in Maastricht, Tilburg, The Hague, Groningen, Zwolle, Den Bosch and Nijmegen have "already struck the interest of potential buyers" and five employees of the Rotterdam Polare bookstore launched a crowdfunding project for their location.
Polare was formed two years ago when the Selexyz and De Slegte bookstore chains merged.