Cash needed
V&D and La Place requested suspension of payment in Amsterdam last week. Disappointing November and December sales meant it did not have enough cash to pay all debtors while its owner, Sun Capital, no longer wished to pay for its deficits.
To get money, it will now sell its 50 La Place restaurants, all of those that are not tied to a V&D department store. All in all, these restaurants should bring in 40 to 45 million euro.
Plenty of interest
According to AD, there is a lot of interest for the restaurants, with several dozens of parties having expressed their desire to acquire one or more. That makes sense as La Place was V&D’s profitable division. The paper also believes management will already go through the most interesting offers later this week.
All V&D and La Place locations will remain open over the next two months, which is important to increase the chances to attract possible investors or buyers.
