Macintosh Retail Group wants to be debt-free

Macintosh Retail Group wants to be debt-free

Dutch fashion company Macintosh Retail Group seeks to become free of debt soon, following the sale of Kwantum and all of its British activities. After that, it will need to invest in its Benelux operation though.

Sell fast

Macintosh was burdened by a 70 million euro debt last year and refinanced several times over the past few years in an attempt to keep the company afloat. CEO Kurt Staelens feels it is high time to change things around. "Once we have sold Kwantum and our British activities, we will be nearly debt-free. That should make things a lot easier when talking to banks, because then we will only need to talk about financing our operating capital", he told Dutch paper De Telegraaf.

 

To be sure that things don't go awry again, all divisions will have to report directly to the CEO. "We will follow our different businesses more closely as speed and agility are more important than ever." He does realize investments are required in the Benelux. "We are a market leader in Belgium and the Netherlands, which makes things a tad easier there, but we will need the capability to invest if needed."

 

That is why Staelens hopes to get rid of Kwantum and its British stores before the end of the year. There have been several binding offers for Kwantum, but it is still early stages for its British operations, with only a few indicative offers so far, according to the CEO.

Questions or comments? Please feel free to contact the editors


Aldi Nord and Aldi Süd collaborate for animal welfare

18/01/2018

Aldi Nord and Aldi Süd will join forces for a unique collaboration: they will launch their own animal welfare quality mark. “Fair & Gut” (Fair and Good) will launch in Germany for poultry products, but steadily expand.

Rewe uses chocolate pudding to see how little sugar is acceptable

18/01/2018

German supermarket chain Rewe has asked its customers how little sugar they can bear. It aims to lower its private label’s sugar levels, but the consumer will decide by how much.

Lidl dials down its American ambitions

18/01/2018

Lidl had hoped to have about 100 stores in the United States by the summer, but will be forced to adjust its first-year goals. It currently has 49 stores in the United States.

Carrefour looks back on difficult year

17/01/2018

Despite an fourth quarter improvement, Carrefour experienced a very difficult year. There was no growth in Belgium either and it now all depends on CEO Bompard’s new guidelines, which will be revealed next week.

British supermarket chain Iceland gives plastic the boot

17/01/2018

British frozen food chain Iceland will be the first supermarket chain to cut all plastic packages from its private labels. By 2023, each of its 1,400 private label products will have more sustainable packaging, like cardboard and paper, alternatives to plastic.

AB InBev sells two German beers

17/01/2018

AB InBev has sold German beer brands Diebels and Hasseröder, alongside its breweries, to investment fund CKCF. The new owner wants to invest more in the two beer brands.

Back to top