Debt-ridden HEMA will be sold this month, or not at all

This month, the beloved department chain HEMA may be sold to one of two potential buyers. But if an agreement has not been made by the end of the month, HEMA may not be sold at all.

After facing bankruptcy in June, HEMA was saved by a group of creditors who payed off €450 million of the store’s debts and now own the chain brand, reports NU.nl. However, HEMA is still €300 million in the red, and the creditors hope to sell the company on to one of two investment companies: Parcom or Alteri.

But this may be tricky, considering the current economic circumstances of the Netherlands. The shareholders want to earn some money when HEMA is sold, but this is not a good time to sell.

In the event of no sale

If the chain store has not been sold by the end of the month the owners of HEMA will retain their ownership and will not be putting the store up on the market for at least another year. “In the next twelve months there will be no further search for a buyer, but the focus will be on business operations,” a spokesperson said.

Attention would then shift to making the business more profitable. So we may see some changes in the anything-you-could-ever-need store chain, but at least we can happily go on eating their scrumptious breakfasts and filling up our bags with their books and stationary.

What do you think of HEMA’s financial situation? Let us know in the comments below.

Feature Image: Jordy Schaap/Wikimedia Commons/CC4.0

Emily Burger
Emily Burger
Emily grew up in South Africa but has also lived in Egypt, the UK, Canada and now the Netherlands. She first came here for her Bachelors in Arts and Culture at Maastricht University and soon fell in love with the land of canals, clogs and cheese. When she's not daydreaming about sci-fi movies or countries yet to explore, you can find her writing for DutchReview.

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