McGregor is entirely free of debt

McGregor is entirely free of debt

Fashion company McGregor has paid off all of its debts to the bank, after ABN Amro had informed the company it would no longer finance it. McGregor now seeks shareholder investments.

No more interest

Four shareholders paid off ABN Amro's debt in return for more shares, which meant the company did not have to take on more debt. Chairman and shareholder Jeroen Schothorst says he is happy with the new arrangement: "We are not paying any interest anymore, no more down payments. We would have had to refinance the debt in two years' time and that would have cost time and energy. Right now, we can focus on our entrepreneurial spirit", he told De Telegraaf.

 

As McGregor no longer has to pay interest, the money will be reinvested into the company, specifically in its ICT, logistics and marketing plans.

 

The company carried a huge debt for many years, ever since it withdrew from the stock exchange in 2006. Within a year, it asked for 220 million euro with ABN Amro, pretty much equal to its turnover at that time. It managed to lower that sum to 150 million euro in 2013, but that is when sales started to slump. Now, McGregor has managed to become entirely free of debt.

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