The week in business: 16 January

Banking – Credit Europe Bank
The Dutch-based financial institution has decided to close its local operations from April 2016. The bank, which operated from Antwerp, has decided to invest in other European markets.

Cinema – Kinepolis
The Ghent-based operator of multi-screen cinemas, with 36 complexes throughout Europe, is building a 10-screen cinema in Bretigny-sur-Orge, 35 kilometres south of Paris. The new complex, to open in June 2016, will be the company’s eighth development in France.

Fashion – Svnty
The Antwerp-based Fashion Club 70, distributor of high-end labels and accessories, is launching a range of sneakers through some 60 outlets in Flanders and the Netherlands. The company is seeking to capitalise on the fast-growing chic athletic market.

Floor Covering – IVC
The Avelgem-based Imperial Vinyl Company, a world-leading producer in floor covering, has been sold by its owners, the Balcaen family, to the US-based Mohawk group for €1 billion. IVC also operates a fast-growing production unit in the US state of Georgia.

Media – Home TV
The Brussels-based real estate brokerage firm Universal plans to launch Home TV, the first TV channel devoted to the property market. The agency, with some 30 offices in the Brussels area, hopes to be on air by 1 April.

Retail – Mer du Nord
The ailing Brussels-based up-market fashion group, with outlets in Hasselt, Ghent, Leuven, Aalst and Kortrijk, has been rescued by the French ready-to-wear group Les Bourgeoises. It will maintain existing stores and expects to open additional outlets in Bruges, Antwerp and Knokke.