Finally an end has come to the soap involving the restart of entertainment chain Free Record Shop. The new CEO of the chain will be Ronald van Geest, former CEO of chain of bookshops AKO. It has also been confirmed that 75% of shares will go to ProCures and a minority interest of 25% has been set aside for founder Hans Breukhoven.
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.