Dutch variety store chain Hema, created in 1926 by department store De Bijenkorf, has filed for Chapter 15 court protection in the U.S. as part of a plan to reduce its debt and manage the impact of the coronavirus pandemic. A group of creditors took over the business and are looking to sell it to a new owner. If the bidders turn out not to be suitable, the creditors must commit to owning Hema for a year before they can seek to exit again.

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Iconic Dutch Retailer Hema Files for Chapter 15 Bankruptcy