Macintosh sells Kwantum to investor | RetailDetail

Macintosh sells Kwantum to investor

Macintosh sells Kwantum to investor

Dutch Macintosh Retail Group has finally found a buyer for its interior design store chain Kwantum: investor Gilde Equity Management. Nothing will change for Kwantum employees at this point.

Clear debts

The Kwantum sale will retroactively take place on 1 January 2015 and will create a 28 million euro net profit for Macintosh, resulting in an accounting profit of 1 million euro.

 

The chain's board will stay on and no employees will be laid off. "Gilde will fully support Kwantum in its drive to invest into the chain formula", Macintosh said in a press release.

 

The profit from the Kwantum sale will be used to clear debts, similarly to how Nea International and Fashion UK's sales were used to clear other debts.

 

"Our altered strategic focus on the shoe market in the Benelux has now been finalized through the sale of Kwantum. Now we can fully focus on getting back on track in the Benelux. One way of doing so is to make streamline our operations and organizations in the short-term. The profit from Kwantum, Nea International and Fashion UK will lower our net debt by some 64 million euro", CEO Kurt Staelens said.

Questions or comments? Please feel free to contact the editors


Chinese internet giant launches attack on Italy

11/07/2018

Chinese internet giant JD.com wants to expand to Italy: the Milan office would be the second European office in a short period of time for Alibaba's great rival.

Flotation Home24 latest success for Rocket Internet

18/06/2018

German investment group Rocket Internet has brought yet another one of its ventures to the stock exchange. Following Zalando, HelloFresh and Delivery Hero, it was online furniture store Home24's turn to raise investments for growth acceleration this way.

Casa v2.0 expands geographically and to home delivery

06/06/2018

Belgian decoration chain Casa has launched a new web shop, that expands from mere click & collect to home delivery. From now on, the Dutch as well can order their furniture for home and garden online.

Blokker Holding has record loss, but sees an upturn

29/05/2018

Blokker Holding has reported a 344 million euro loss for the past fiscal year, largely because of high one-time restructuring costs, according to the group. The implementation of its new strategy is on schedule.

Ikea plans to cut 150 jobs, including in Belgium and the Netherlands

04/05/2018

Ikea will be cutting 150 jobs, some of them in the Belgian and Dutch branches as well. The plan is part of a major reorganisation effort to help prepare the furniture giant for the growing competition of large e-commerce players.

Beter Bed suffers from poor German results

02/05/2018

Dutch mattresses group Beter Bed Holding saw its first quarter turnover drop 4 % compared to last year. Turnover went down in Germany, where a poison scandal forced results down by 12 %, but Switzerland and Spain performed even worse.