Ronald van Geest new CEO Free Record Shop

Deal is
done

Wednesday
the acquisition contract of Free Record Shop was finally signed. As was known
for a longer time, Dutch investment group ProCures, which also saved bookstore
chains De Slegte and Selexyz from bankruptcy, will be at the helm of the
restart of the entertainment chain.

The role
founder Hans Breukhoven will play in all this, has also been decided. He will
get 25% of shares of his chain, but he will only have an advising role in the
company. “From London I can keep on advising the team”, Breukhoven told Quote.

Last year
the business man resigned as CEO of Free Record Shop, because of the impending
reorganisation of the company. “I do not like it, I am not good at it, somebody
else should do it”, was his reaction back then.

About 100
jobs saved in the Netherlands

ProCures has
also repeated its intent to save 30 to 40 shops in the Netherlands, saving
about 100 jobs. Last week it was already announced all Belgian and Luxembourg
shops and their personnel would be kept intact.

The
curators had also said they will give ProCures some time to decide which stores
they want to keep open and how many people would lose their jobs. This was not
to the liking of the unions, who feel the employees should not be kept in uncertainty.

Now the
curators say ProCures will shortly announce its plans, to the employees of Free
Record Shop and at its headquarters in Capelle aan den Ijssel.