Telgte (dpa) - The fashion discounter Takko, which was hard hit by the Corona crisis, has made room for itself financially.
Takko will receive additional funds of around 54 million euros from its owner, investors and banks, said interim CEO Karl-Heinz Holland on Monday.
"The loan enables us to cover our operating costs in the short term and to ensure the continued existence of our very healthy company," stressed Holland.
Initially, Takko had sought a guarantee from the country.
But the negotiations had failed.
With over 1900 branches in 17 countries, Takko is one of the largest fashion chain stores in Europe.
The company, based in Telgte in the Münsterland region, employs 18,000 people, including around 14,000 in Germany.
The owner is the financial investor Apax.
The textile discounter ran into financial difficulties due to the second lockdown.
Due to the partial reopening of the stores, the situation has improved, however, the financial requirements have decreased thanks to the high customer demand, stressed Holland.
Takko is therefore “confident that he will be able to repay the money quickly”.
In the medium term, Takko wants to return to growth.
© dpa-infocom, dpa: 210315-99-829370 / 2