HEMA is not in receivership, the department store chain has stated in a press release. It refutes the claims made by Financieele Dagblad, which had stated that several banks and Lion Capital took control.
Apparently, CEO Ronald van Zetten had received a lot of criticism, because he was not open to feedback from his colleagues. "This is factually incorrect and not based on facts. HEMA has successfully finished its refinancing program, which proves that the claims in the paper are incorrect and unfounded", the company writes.
The department store chain announced last week it would replace its bank loans with 715 million euro in bonds, which have secured its financial situation for the next few years.
Investment company Lion Capital announced last week that HEMA had a 119 million euro operating income, with net losses at 16.4 million euro.