FNG was one of the largest fashion trading companies in Europe incorporating many brands such as CLAUDIA STRÄTER, Miss ETAM, BRANTANO, FRED & GINGER and others. In the summer of 2020 it appeared that the group had major financial problems and the Belgium stock authority called FSMA, discovered serious irregularities in the financial reporting of the group. A criminal investigation was started and some of the top directors were arrested. Several of the subsidiary companies in the Netherlands and in Belgium were declared bankrupt but the holding survived in 2020 .
At the end of 2020 – beginning 2021 SQ and Mr Geert LENSSENS were consulted by an important group of bondholders including institutional investors and investment funds that fear to have lost their money. SQ designed a master recovery program including different initiatives within the criminal investigation as well as several other specific legal actions.