This article was last updated on August 15, 2024
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Blokker accountant warns of financial problems
Blokker must take quick measures to prevent cash shortages, warns KPMG, the store chain’s accountant. This is reported by the FD and is evident from the annual report of parent company Mirage Retail Group.
According to the accountant, Blokker could run into financial problems as early as the autumn of 2024, unless the situation improves quickly. But even if the retail chain performs better in the coming months, Mirage Retail Group may have to sell business units to keep Blokker afloat.
Take action quickly
Things have not been going well for Blokker for some time now. At the beginning of this year, a new buyer for the company was still actively sought. That plan was abandoned when 35 million euros could be borrowed from the American investment company Gordon Brothers in May.
Ynse Stapert, chairman of Mirage Retail Group, said at the time that Blokker’s future would be moot to trust to look forward to. In addition to the accountant, Stapert also expresses concerns about the company’s progress due to the disappointing results.
If the results in the coming months are not better than expected, measures must be taken quickly this autumn to prevent the money from running out, Stapert says in the annual report.
20 million euros loss
Blokker has approximately 400 stores and more than 4,000 employees. The company has been making losses since 2014. The Blokker family sold the retail chain in 2019 to Mirage Retail Group, which also includes Intertoys and Miniso.
The group made a loss of 20.7 million euros last year, although this includes the losses of electronics chain BCC, which went bankrupt last year. Things are going better with Intertoys; last year a profit of more than 7 million euros was achieved.
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