How the Dutch government almost became the new owner of HEMA

You know how everyone talks about how you need to start buying stocks? The Dutch government seems to have taken this advice to heart, as it considered becoming a co-shareholder of the popular Dutch chain, HEMA. 

However, this potential purchase wasn’t just a strategic investment move. HEMA has been making losses for years and this was actually supposed to help save the retail chain.

HEMA has a historical and sentimental value for many Dutchies and the Ministry of Economic Affairs was afraid of the political and social consequences if the store was to disappear… so they just decided to buy it. 

The deal was that if the retail chain fails to reach an agreement with creditors, the government would buy 50 million worth of stocks to save the company, reports the NOS

The final decision

However, the purchase was ultimately stopped by the Dutch Minister of Finance, Woepke Hoekstra, who wanted to let the market do its magic. So how did things end for the beloved store? 

HEMA announced at the end of last December that it would be taken over by the Dutch investment fund Parcom and the owners of Jumbo. The debts of the current creditors would only be taken up by the three big banks — ABN Amro, ING, and Rabobank. 

Would you have liked to see the government buying HEMA? Tell us your thoughts in the comments below!

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

Jana Vondráčková
Jana Vondráčková
Originally from the Czech Republic, Jana moved to the Netherlands for her studies. She fell in love with the local biking culture, and you’ll see her drifting through the streets of Rotterdam on her pink bike even in the worst possible weather (think rain, snow, hail, or all three). Besides advocating for Rotterdam as the best Dutch city, she likes to wander around with a camera in her hand.

1 COMMENT

  1. I don’t know what is the best way but I only want HEMA staying with us because it is a Dutch icon and all of us, tourists, locals and Dutch people, love to go there and have a good time enjoying a tampouce while buying nice things

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related posts

Latest posts

Rewards for injections? This may change Dutch attitudes towards the coronavirus vaccine

It's been the word on everybody's lips for the past few months — vaccines. With hundreds of people queuing for leftover vaccines, you would...

You have to pay: Netherlands against free PCR tests when travelling

As part of the aim to see travel between EU countries resume this summer, the EU Commission has proposed that compulsory PCR tests before...

Forgotten women painters of the Dutch Renaissance and Golden Age

The Netherlands is of course a land of art and museums. Countless museums showcase the works of famous Dutch Masters with many named after...
X