October 30, 2020

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HEMA is definitely in the hands of the bondholders

HEMA is definitely in the hands of the bondholders


Photo: ANP

Investor Marcel Boekhoorn is definitely no longer the owner of HEMA, the judge decided. The green light has been given for the transfer of shares to a group of bondholders.

The bondholders’ group asked for permission to take over all of HEMA’s shares in exchange for the repayment of debt from the department store chain. The existing bond from HEMA, which was originally 750 million euros, will more than halve to 300 million euros. The company’s liquidity position will be significantly improved through additional bond financing of EUR 42 million.

The CEO of HEMA, Tjeerd Jegen, is pleased with the verdict: “We are delighted with the very quick verdict of today’s judge. We have always been confident that this was the right move for HEMA. After the process is complete, we can concentrate fully on serving our customers optimally, implementing our strategic plan and further expanding our brand. With a greatly improved financial structure, we are able to handle current market conditions and it is good to see so many people support HEMA. “

The bondholders are currently working with HEMA to find a successor for HEMA with long-term goals. The department store chain itself expects this process to be completed before the end of the year.