Beta Distribution’s Dutch arm which survived all its parent company’s problems has declared bankruptcy owing more than €2 million.
A Dutch-language report posted on bankruptcy website Faillissementsdossier, the subsidiary declared bankruptcy on 21 December 2018, with a debt pile of nearly €2m (£1.7m).
The Dutch arm saw turnover of €40 million in its financial 2017-2018. At the time of the administration, it had €730,000 of book stock, and trade receivables debt of nearly €2 million. A third party has since bought the Maastricht-based subsidiary for a prepaid purchase price, as well as the book stock.
In its administrator’s report on 20 December 2018, it said that Beta Distribution BV continued to trade and was under the control of its director. Beta held a 90 percent stake in its BV unit.
Beta BV had eight employees at the time of bankruptcy, who were told of the news a day after bankruptcy was declared, according to the report.
Beta Distribution BV’s website is no longer available, and the phone line is disconnected.
