at the End of 2021, it will Block again in the black to run, ” says president and owner, Michael Witteveen in the Friday published an interview with The Telegraph. The loss-making department store chain is now achieving better grades, says Witteveen, however, the revenue is still lagging.
now, About the end of 2018 took the group to a loss of a couple of hundred million” dollars, he said. This is including a write-down of € 75 million, as the company is that the value in the books of account was. Witteveen took over the group for the symbolic amount of 1 eur, which is 75 million should be written off.
He tells us further, that the Block in the last three months-significantly better than had been budgeted. “Well, not in revenue, but costs and profit, therefore, in terms of operational performance. We will be doing less and less promotion to sell more of its products from its own label, which has a higher margin on it,” said the president.
In september, it was announced that the Witteveen is also in the toy industry Intertoys and Maxi Toys will be taking over. Almost a year ago, it was a chain because of the Block Holding is being sold to the Portuguese, the Green Swan.
Witteveen said that the Green Swan is a loan from a bank needs to have toys to buy, but the banks were not in order. The results of the Intertoys and he says that it is up and running, but its turnover is lower than in the previous year.
