New proprietor sweeps by way of Hunkemöller: 90 shops closed

That is evident from the annual figures of the Dutch firm for the monetary 12 months 2023, which lasted till January this 12 months.

Hunkemöller had a tricky time on either side up to now 12 months. For instance, it suffered drastically from excessive inflation, which induced prices to rise. Shoppers additionally suffered from decrease disposable earnings. Because of this, the turnover fell by virtually 8 p.c to 542 million euros.

The loss was excessive partially as a result of not less than 109 million euros have been written off goodwillwhich is a worth for, amongst different issues, firm identify and prospects.

10 p.c of the retailers closed

Hunkemöller’s web site, which has been within the palms of traders for 2 years, now lists round 170 shops within the Netherlands. As well as, shops are primarily in Germany, Belgium and Austria. Hunkemöller doesn’t need to say the place shops have been closed final 12 months, or if that was additionally within the Netherlands. It additionally doesn’t say the place the 45 shops that can shut in 2024 are and whether or not they’re additionally within the Netherlands.

The entire of 90 shops that have been closed final 12 months, or will likely be closed, signify roughly 10 p.c of Hunkemöller’s variety of shops. New shops have been additionally opened: final 12 months there have been 11 shops, and not less than six extra openings are anticipated this 12 months.

Brick and mortar shops are essential to Hunkemöller. Final 12 months they accounted for nearly 72 p.c of the overall turnover. The remainder of the conversion comes by way of the web site and third social gathering on-line shops, akin to Zalando.

The more serious monetary state of affairs

The large loss makes Hunkemöller’s monetary state of affairs a lot worse. Shareholders’ fairness fell from greater than 211 million euros to virtually 71 million euros. That may be a discount from 18.6 p.c to 7.7 p.c of the steadiness sheet whole.

The corporate obtained a mortgage of fifty million euros in June and, in line with Hunkemöller, that quantity needs to be sufficient to fulfill its monetary obligations for not less than one other 12 months. The brand new mortgage will really enhance the overall debt and worsen the monetary state of affairs.