It is this month or so for the sale of department store chain HEMA.

The company came into the hands of a group of creditors in June and they want to reach an agreement with one of the two potential buyers this month.

If that fails, the creditors will no longer actively enter the market for a year.

This is evident from documents that HEMA has published for the benefit of interested parties.

If HEMA is not sold after all, this will have no consequences for the stores.

The two parties that are still in the race to acquire HEMA are investment companies Parcom and Alteri.

"If no agreement is reached with either of these two bidders, our shareholders will choose to retain ownership," a HEMA spokesman said Thursday.

"In the next twelve months there will be no further search for a buyer, but the focus will be on business operations."

The current shareholders will want to keep money from the sale of HEMA and it is not the most favorable climate to sell a company at the moment.

When they became the owner of HEMA this summer, they canceled part of the company's debts.

Debts reduced to 300 million

In mid-June, HEMA and a group of creditors reached an agreement on the takeover of the retail group by these so-called bondholders.

HEMA was thus no longer owned by Marcel Boekhoorn, who became the owner at the end of 2018.

Under the agreement that HEMA and the creditors concluded in June, 750 million euros in debt has been reduced to 300 million euros.

In exchange, those creditors have become owners of HEMA.

This group of creditors held 600 million euros of the debt through bonds.