On 31 December 2015, V&D was declared bankrupt. The appointed liquidators decided to keep the department stores open, pending restructuring and takeover talks with several interested parties. On 26 January 2016, Jumbo, a Dutch supermarket chain, announced that it had acquired the subsidiary La Place with the exception of its in-house restaurants, in which it also expressed an interest. Further talks were on-going throughout January and February and ultimately focused on CEO of the Dutch clothing retailer CoolCat and investor Roland Kahn. On 16 February, it was announced that the negotiations for a takeover had broken down. Various news media marked this announcement as the definitive end of the company. About 10,000 employees lost their jobs.