Jumbo buys La Place restaurants in V&D bankruptcy deal

Dutch supermarket firm Jumbo will take over the reigns of La Place restaurants in a deal approved by the administrators overseeing the restaurant parent, V&D’s bankruptcy. Jumbo will initially take over 60 restaurants, the company’s assets and its headquarters, the administrators announced on Tuesday. The value of the deal was not disclosed. “Jumbo is still in talks with the trustees about a possible restart of operations at the La Place branches inside V&D department stores,” the grocery chain said in a statement. “We have great admiration and respect for the La Place formula, the organization and its employees. We share the same passion for good, fresh and healthy food and also for our customers,” said Jumbo CEO Frits van Eerd. “Jumbo and La Place are both strong brands and can go further into the market of food.” La Place managing director Bart van den Nieuwenhof said the situation was a dream come true for the restaurant. “After times of uncertainty, I now confidently look towards our common future,” he stated. Up to ten restaurant locations will be closed in the deal, but it is not clear how many or which ones. There are two candidates still in the running to take control of V&D, the Telegraaf reported on Tuesday. The top contenders were not revealed. American private equity firm Sun Capital, the current V&D owner, is not expected to regain control, having taken on much of the blame for the bankruptcy. V&D was formally declared bankrupt on December 31, putting 10,000 jobs at risk.