Chic by Choice advances in the settlement process – Observer

Chic by Choice, a Portuguese start-up for clothing rental, will advance to liquidation. The information was advanced by Rita Marques, director of Portugal Ventures – which holds 18.7% of the share capital of the start-up – in an interview with the newspaper Eco, but the brand will remain, even if we do not know Where

"We are in the process of solving the case of Chic by Choice as that of other companies that are going through or have gone through this business.The case is treated fiscally, financially and legally, to close the case. This is the result that, for us, is normal, and that's why it's venture capital, "said Rita Marques, who has been heading the director since May. of state venture capital

investigated the cases of Portuguese women who were distinguished by Forbes as two of the brightest young women in Europe under 30 years in the category of retail and in addition to concluding that the company would not operate co Even planned, it was found that the losses amounted to more than one million euros. At the time, none of the founders of the project made any statements about it

Following this investigation, Portugal Ventures said the project had an unsustainable business model and that it was trying to sell the business. According to the director, "the developers have chosen to reduce the cost structure and investment in customer acquisition, keeping the brand active in the market by monetizing their existing assets and establishing contacts for the sale of the company. "

Rita Marques also spoke in the interview of a" very constructive speech by the founders ". "When things go wrong and, again, that's what we call venture capital, we have to resolve the situation the best we can." And it's very good to have it. To have a fruitful speech to the founders at the end Because, for them, there should be no greater pain than not going through the exit [venda da participação] and d & # 39; go to liquidation or insolvency. "

Last year, Chic by Choice changed the business model: from renting luxury dresses to a company selling dresses. At the end of the year, the two founders, Filipa Neto and Lara Vidreiro, and the rest of the team left the company.

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