Headquarters Q & amp; D ANP / Remko de Waal
The bailout of V & D is temporarily successful. There is definite agreement between the banks, shareholder Sun Capital and property owners about the survival of the store for the coming years. That V & D announced today. For the long-term basic agreements.
Through the plan, the department store chain can by mid this week have sufficient working capital to meet its obligations, according to the group. CEO Don Roach said:
“Employment is thus preserved and V & D remains a familiar part of the retail landscape. Funding is thus structurally in order and we will now continue to work hard on a healthy, profitable future. “
The success of the plan is due in large part to IEF Capital says the company. The property owner came to the weekend with a proposal to put more money into the ailing V & amp; D pumps. The plan provides the department store chain opportunities to achieve the necessary reductions in charges for long term rental
No agreement with unions
V &. D has no agreement is reached with the unions yet. The company wants to lower the wages of all 5,000 employees by 5.8 percent. Because these plans, the unions have gone to court. V & D says by wanting to negotiate a “necessary labor cost reduction.” It is still unclear whether the rescue of V &. D can continue if there is no agreement with the unions and staff
FNV and CNV were able to be glad that V & D is not going bankrupt, but remained cautious. “We do not agree with what they have proposed so far,” said FNV against ANP. “We want to talk about most measures, but on the basis of guarantees and security for staff.”
Some obstacles
In addition, IEF is a major creditor, but there are several other creditors and suppliers who are not involved in the current bailout. Technically, they could still go uncooperative because the appointments are not made with them. Finally, it remains to be seen what the long-term agreements and whether these structural changes result of V & D again make a profitable business
Read more in NRC Handelsblad. Even with agreement remains future V & amp; D uncertain (€) or NRC Q: Many shops are worse than ever, and to whom does the V & amp; D still expect help?
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