Dutch independent retail group Free Record Shop on Friday filed for bankruptcy but hopes are high for a restart.

‘Together with the curator, we will assess if a restart is possible,’ the company said in a statement. ‘We are also looking to see if the shops can be kept open in the meantime. There is a very good chance the Free Record Shop will remain a high street fixture.’

The Free Record Shop group has been hit by the surge in online music and dvd sales and is currently in the process of reorganising its operations.

Books

Last month it emerged investment company ProCures, which took over the Selexyz and De Slegte bookshop chains last year, was in talks to take over the company. According to the Financieele Dagblad, ProCures is involved in the restart talks.

Hans Breukhoven, the 66-year-old entrepreneur who founded the chain in 1971, is still a major shareholder in Free Record Shop but is no longer in charge of day-to-day affairs.

The company has 140 shops in the Netherlands and a workforce of 755. Its Belgian outlets are not affected.