Belgian restaurant chain Exki has secured fifteen million euros in new capital, which it wants to use to implement its relaunch strategy and fulfil its European ambitions.
Bankruptcy averted
Investment fund Iris Belgium, a shareholder since 2014, has acquired the stakes of the Dossche family and founder Frédéric Rouvez. The fund will also immediately increase the capital by fifteen million euros. While financial details of the transaction remain undisclosed, it is clear that this marks a new chapter for the restaurant chain, which is also engaging in discussions about extensive debt restructuring with its financial partners.
Exki has faced financial difficulties since the 2017-2018 financial year, resulting in a substantial debt burden. In November last year, CEO Stan Monheim sounded the alarm, stating that the company needed a capital injection of at least ten million to avoid bankruptcy. Now that the funds are secured, the chain can proceed with an ambitious relaunch plan.
European ambitions
According to Monheim, Exki has managed to return to profitability in recent months by revising work methods, optimising the purchasing structure, and focusing on core activities. The debt has also been further reduced. Therefore, the CEO thinks Exki can now fully commit to realising its ambitions in Europe.
Founded in 1999, Exki offers healthy convenience food in city centres and travel locations. The chain has 77 restaurants in five European countries (of which 38 Belgian and 32 French) – both company-owned and franchised.
