In view of the renewed corona lockdown, the company based in Telgte in the Münsterland has applied for a guarantee from the state of North Rhine-Westphalia for a bridging loan. The interim CEO Karl-Heinz Holland confirmed this at the request of the German Press Agency.
The loan is in the mid double-digit million range. With over 1900 branches in 17 countries, Takko is one of the largest fashion chains in Europe. The company employs 18,000 people, including around 14,000 in Germany.
“Takko is a healthy company, but after almost three months of lockdown we need that support,” said Holland. The liquid funds available at the beginning of the new business closings have been used up. Takko needs the guarantee “as soon as possible” to secure jobs.
Takko has no claim to funds from Bridging Aid III, as the turnover is above the limit of 750 million euros. “Apart from the short-time work allowance for our employees, there has so far been no help,” said Holland.
Since the beginning of the Corona crisis, a number of well-known German fashion retailers have got into trouble and had to seek rescue in insolvency proceedings. At Takko, the situation is not comparable, said Holland. 2019 was the most economically successful financial year in ten years.
Even after the first lockdown with business closings in spring 2020, Takko “had an extremely strong second half of 2020”. One is therefore confident that government funds can be repaid quickly.
Takko is well positioned for the time after the lockdown. Since the majority of the Takko branches are close to food discounters such as Lidl and Aldi or drugstores, they are not affected by the reduced customer footfall in the city centers.
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Corona crisis fashion discounter Takko applies NRW state guarantee Regional