Maxeda DIY Group, the parent company of Praxis, Brico, and BricoPlanit, has reached an agreement with its creditors: they will write off part of their claims in exchange for a minority stake, while shareholder Goldentree will inject new capital.
Debt reduction
Maxeda has reached an agreement with its main financial partners to significantly reduce its debt burden. In total, the debt will be reduced by €139 million, the term of existing loans will be extended, and creditors will acquire 41% of the shares. Investment fund GoldenTree will also inject €50 million of new capital into Maxeda.
