V & D: in talks with banks – Financieele Dagblad (Registration)

V & D: in talks with banks – Financieele Dagblad (Registration)

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Retailer V & ; D denies ING, ABN and Rabobank Sunday the credit tap will turn off

The Telegraph reported Saturday that banks from February 1, no. credit to these borrowers to V &. D, making a bankruptcy would be inevitable

However, according to a spokesman for the retailer is not discussed that the banks after 31 January no credit will provide more. However, V & D with the banks talk about ‘future credit. Until those

conversations would run the store make no further announcements

V &. D, which is owned by the US private equity house Sun Capital losses suffered for years and succeeds as but not reverse the tide. Two weeks ago, the Company announced that a package of measures to drastically reduce costs. The biggest cost savings must come from a pay cut of 5.8% that is required of all employees.

In addition, the chain demanded that landlords of retail accept a rent-free period from February to May. IEF Capital, one of the landlords of V & D stores, demanding in turn in a lawsuit that four offices in Amsterdam, Utrecht, The Hague and Maastricht are evicted if the rent is not paid before February 1

.