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Million loan: Well-known fashion chain with 14,000 jobs saved from Corona bankruptcy

2021-03-16T04:37:33.098Z


The lockdown has put many companies in dire straits. Question marks also grew behind the future of the fashion discounter Takko. But now the company is saved.


The lockdown has put many companies in dire straits.

Question marks also grew behind the future of the fashion discounter Takko.

But now the company is saved.

Telgte - The future of the ailing fashion discounter Takko is assured.

The company announced on Monday that it had received a loan of around 54 million euros from banks, investors and owners.

In view of the partial reopening, the financial requirements were lower than initially thought, it said.

Takko had got into an "economic extreme situation" because of the renewed Corona * lockdown.

According to the company, the forced closings had caused damage of ten million euros per week.

In view of the dramatic situation, the discounter from Telgte near Münster started talks about a state guarantee in mid-February.

But the end came just over a week ago.

According to Takko, the conditions of the auditing firm PwC, commissioned by the state and federal government, were “impossible to meet” even after intensive negotiations.

Takko: Money from the owners

Now the company has regained financial leeway through a loan from the owner Apax Partners, investors and its house banks.

The interim head of Takko and chairman of the advisory board, Karl-Heinz Holland, was accordingly relieved: “We are pleased that we have found a solution so quickly.

The loan enables us to cover our operating costs in the short term and to ensure the continued existence of our very healthy company.

The extended lockdown had brought Takko Fashion into an extreme financial situation through absolutely no fault of its own, which made it necessary to take out this bridging loan.

Thanks to our sustainably successful business model, we are confident that we will be able to repay the money quickly. "

Takko was confident of resuming growth in the medium term.

With the new loan, companies can now concentrate fully on day-to-day business again.

Takko: Confidence after the branches opened

Last Monday (March 8), Takko reopened around 1000 of its 1200 branches nationwide for the first time and recorded "very promising demand in its local branches".

The company, which was founded in 1982, employs around 18,000 people, 14,000 of them in Germany.

In the pre-Corona year 2019, the company said it was in the black.

* Merkur.de is part of IPPEN.MEDIA.

Source: merkur

All news articles on 2021-03-16

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