Virtually all former HEMA creditors have agreed to the agreement, which was concluded in mid-June, to convert debts into shares. Part of that agreement is that a large part of the debts will be canceled. Next Monday, the English court of Justice must finally approve the agreement, says a spokesman for HEMA.

In mid-June, HEMA and a group of creditors reached an agreement on the takeover of the retail group by the so-called bondholders. HEMA was thus no longer owned by Marcel Boekhoorn, who became the owner at the end of 2018.

Previously, a group of creditors representing 75 percent of the debt backed the agreement, now it has risen to just over 98 percent. "And that is very good news," said the spokesman. "It's great that there is so much support for the agreement."

Under the agreement that HEMA and the creditors concluded in June, 750 million euros in debts will be reduced to 300 million euros. In return, those creditors become the owners of HEMA. This group of creditors holds 600 million euros of debt through bonds.

Then there is a debt of 150 million euros, which is a subordinated loan. The expiry of the subsequent payment term meant the beginning of the end of Boekhoorn as HEMA owner.