B&M European Value to sell loss-making German business
B&M European Value Retail has agreed to sell its loss-making German business Jawoll for €12.5m to a consortium led by AC Curtis Salta, which is funded by Adiuva Capital.
B&M European Value Retail
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The discount retailer said on Wednesday that on completion, the purchaser will also repay Jawoll's bank debt.
Jawoll is a general merchandise discount retailer with 89 stores in the North-West of Germany. In the year to the end of March 2019, it made losses of £15.4m.
Completion of the deal is expected to occur within the next 28 days or by a long stop date of 1 June 2020 and B&M said the transaction will have no material impact on the company’s leverage.