Social enterprise and textile recycling company i-did has requested a deferment of payment

The Hague-based social enterprise i-did, which supports people who have not worked for a long time or never and makes products from recycled textiles, has requested a deferment of payments. The reason is the Tax and Customs Administration's failure to approve a widely supported restructuring proposal.

Photo by: Samuel Wagner - Waste Alchemists

During the coronavirus pandemic, i-did invested in the construction of its own textile recycling plant to scale up its social and circular impact. Construction of the plant was delayed due to the pandemic, while orders were lost and costs rose. Despite budget cuts and a renewed focus, the financial consequences proved to be structural.

To provide perspective, a restructuring proposal was drawn up. A large majority of creditors—80%—agreed. Despite repeated requests, the Tax and Customs Administration refused to approve the proposal.

Due to the lack of full approval, the remediation process has stalled, and a deferment of payment has been requested. The organization is currently investigating the consequences and what options are available. At the same time, the focus is on the people who work so diligently every day in the factory and workshop. In close cooperation with the municipality of The Hague, i-did is fully committed to providing the right support for its employees.

For questions or interview requests:
Eva Margarjan-Huijts – eva@i-did.nl