And again investors are willing to open their wallets V & D – Financieele Dagblad

It shows boldness and swagger to retry the long-term sick V & D to breathe new life. The trustees made known exclusively Saturday to talk with Cool Investments, the investment vehicle of entrepreneur Roland Kahn. The owner of several fashion chains thereby drawing with Jumbo, which has recently become the owner of the assets of La Place restaurants in the V & D department stores

V & D is not the first chain binnenhengelt Kahn. He has become great with teen clothing Coolcat, but has also become the owner of the clothing of America Today, the lingerie business Sapph and MS Mode offices for larger ladies sizes. Kahn also tried to buy Hema in 2007, but there was investor Lion participating in the stroke. He also had a crush on V & D, but then found MS Mode better suit his business.

Custom Concept

Now obviously arises to get the chance for the chain for an apple and an egg, because Kahn pays not like too much. Yet the curators try to come out with him and Jumbo. Of the Canadian department store Hudson’s Bay Company, which is also interested in V & D is indeed unclear how many stores they want to continue. That, in view of the Hudson’s department stores that previously bought Kaufhof in Germany and Inno in Belgium, only bigger.

The Canadians, who Jumbo reportedly recently wanted to go into the sea, seeing little future in the existing V & D concept and perhaps not even in La Place. The owner of five hundred stores, including the famous Saks Fifth Avenue in New York is looking for expansion in Europe. But it has the knowledge and purchasing power in Dutch premises to introduce a unique concept, which includes marketing plays a big role over the internet. Since it has the name and the concept of V & D is not necessary for

Only the buildings .

While Hudson’s only wants the premises and therefore outside the trustees to negotiate with the property owners, the families Kahn and Van Graduated sit still the curators at the table. Would their takeover battles than banks and building owners need to cooperate. The family, which hopes are about nine thousand V & D and La Place employees, counting secretly that real estate players count their knots and are willing to come back over the bridge to improve the shops.

Their contribution is sorely needed, because the acquisition itself is only the first step. If it is put, many millions will be invested to make the stores profitable. Jumbo has to repay a substantial debt after the acquisition of Super de Boer and C1000; Empire Kahn pays inadequate. Last year, he could not fulfill all the agreements with the banks, but was met by ING to agree a new financing.

Smarter group

For comparison. The V & D chain has been writing for decades mostly losses in the books and former owner Sun has more than € 200 million in the V & D pumped without there ever came a view of sustainable profitability. The management of V & D but still feels that it has exactly the plan that will ensure this. Central to this are more own brands, more entertainment on the shop floor and refurbishment to worlds around example, women’s fashion and travel

Indoor V &.; D-circles they think it will be well with the necessary investments. Existing procurement budgets articles could also be smarter grouped so that the buyer of a dress no more different floors for matching boots or jacket need to walk away. Well need better lighting designs and get renovations, and there are all kinds of places stockpiles for V & worldwide; D stores already some empty spots show the shelves.

More stable tenant

the property owners, who have terminated their contract unilaterally in many cases after the bankruptcy, are in a difficult position. Some would prefer the property or the lease transfer it to Hudson’s. That, however, calls are converted a substantial contribution to the renovation of the buildings and a rent-free period until the buildings. For many owners is not an option because they just need to continue to pay their mortgage.

Another part thinks that long-term Hudson’s is a more stable tenant. If the property owners who prefer to continue with Hudson’s keep their foot down, it becomes a legal dispute, predicts a real estate expert. “Both parties will probably stipulate that they want, for example, in all major cities a minimum number of locations. The key lies in large part with the property owners. The race is in my view not yet occurred.