HEMA placed in receivership

HEMA placed in receivership

HEMA has been placed in receivership, with its British owner Lion Capital and the banks that had lent it money as its curators.

More than one cause

Owner Lion Capital has apparently taken control of 'its' HEMA, according to Financieele Dagblad. An insider has stated that an army of bank employees and Lion staff are running things at the main office.

 

Every interviewee points out that there are many reasons as to why HEMA is in trouble, but one of the main issues is how the company is run. Both Lion Capital, the board of directors and its CEO Ronald van Zetten have received their part of flak for their part in the "ruin" of the retail branch's Dutch icon.

 

Operating profit is problematic

Allegedly, Van Zetten works on his own and refuses to listen to criticism anymore. "Ronald only listens to Ronald", is one of the comments. The CEO believes the criticism is not founded and he refutes the claims that "all decisions are being taken by one person, without any communication."

 

The group announced a 16.4 million euro net loss in May, while it had managed a 5.8 million euro profit the year before. One of the lenders' demands was that its operational profit did not drop below 120 million euro, while the retailer only managed 119 million euro in May.

Questions or comments? Please feel free to contact the editors


Sephora launches smaller store formula

24/07/2017

Cosmetics manufacturer Sephora launched a smaller store formula in the United States. Up until now, it had focused on large stores, but has now turned its attention to smaller stores.

Brazilian takeover of The Body Shop confirmed

29/06/2017

L’Oréal has officially confirmed the sale of its British subsidiary The Body Shop to Brazilian Natura Cosméticos. The deal was signed this week, is estimated to be worth 1 billion euro and should be finalized before the end of the year.

AS Watson wants to acquire Holland & Barrett

22/06/2017

AS Watson, Kruidvat’s parent company, has entered negotiations to acquire Holland & Barrett. It is apparently willing to pay one billion pounds (1.15 billion euro).

Estée Lauder doubles Victoria Beckham product range

22/06/2017

Things are going very smoothly for Estée Lauder and Victoria Beckham. Their first two “limited collections” sold out instantly and that is why the former Spice Girl will create a third collection.

Brazilian competitor on the verge of The Body Shop acquisition

09/06/2017

French L’Oréal has entered exclusive negotiations with Brazilian Natura Cosméticos to sell store chain The Body Shop, in a deal that should be worth a billion euro.

Belgian online pharmacy Pharmasimple wants to conquer Europe

29/05/2017

Pharmasimple, an online pharmacy founded in Brussels seven years ago, experienced a 66.2 % turnover growth to 11.3 million euro in 2016. However, it has lofty ambitions, targeting a 100 million euro turnover in the next five years.

Back to top