Emendo advises VAB regarding financial situation of HEMA

Summary

AMSTERDAM, April 2020 – Emendo has advised Vereniging Aangesloten Bedrijven (VAB) – the representative body of HEMA’s franchisees – on the financial situation of HEMA B.V. (“HEMA”). As a result of the high debt burden of HEMA and the consequences of COVID-19 measures, HEMA was in dire straits at the end of Q1-2020. These uncertainties could trigger different scenarios for the continuity of HEMA, which could also directly impact franchisees. As such, Emendo advised the VAB on the possible scenarios and options with respect to the financial situation of HEMA.

In December 2020, it was announced that HEMA has entered into a sale and purchase agreement with Parcom and Mississippi Ventures. For additional information, please refer to the HEMA press release (link).

About VAB

The VAB is the representative body of HEMA’s franchisees. VAB represents approximately 100 franchisees with about 250 stores in the Netherlands, which contribute to a large portion of HEMA’s revenues.

About HEMA

Ever since 1926, HEMA has been making daily life better, easier and more fun for its customers. With products and services that stand out because of their sustainable quality, optimistic design and good prices, HEMA has over 32,000 own brand products and services, close to 800 stores in 12 countries on 3 continents, and over 19,000 employees. HEMA annually generates on average revenues of ca. € 1.2-1.3 billion.

For additional information on HEMA, visit www.hema.net.