Around 500 of the 1,000 staff at retail chains iCentre, Dixons and MyCom will lose their jobs following their takeover, news agency ANP says on Monday.

The three high street chains have been sold to the Relevant Holdings group following the partial bankruptcy of their parent firm BAS Group last week.

The new owner is closing 120 of the 200 stores, slashing the workforce by 50%. Relevant Holdings owns the Phone House, Optie 1 and Typhone telecom retailers.

The bankruptcies are the latest in a string of problems to hit Dutch high streets. Etam, Schoenenreus, Sabon, Siebel and Halfords are among this year’s bankruptcies.