Robus Capital secures majority stake in Hallhuber fashion chain
Munich / London — The ailing fashion manufacturer Gerry Weber has largely separated from its subsidiary Hallhuber. British investor Robus Capital Management has acquired a majority stake in the Munich-based fashion chain, Gerry Weber announced. The fashion company from North Rhine-Westphalia, which is working on its own responsibility on its reorganization in insolvency proceedings, will thus retain a stake of only 12 percent in Hallhuber.
The investor had provided bridge financing of ten million euros for Hallhuber in February. In return, he had a purchase option granted to him, which he has now exercised. Gerry Weber took over Hallhuber in 2015 in order to tap into younger customer groups. The subsidiary was long regarded as the Group’s biggest growth driver.
Investment in online retailing and IT technologies
Hallhuber announced investments in the areas of online retailing and IT technologies. “Here we can build on the financial support of our new majority shareholder,” Managing Director Rouven Angermann said, according to the release. Expansion is also planned in the stationaryPrivate Business Cloud trade, he said.
The parent company Gerry Weber International had filed for insolvency proceedings in self-administration in January — with the aim of restructuring the company. According to earlier information, the restructuring concept includes the closure of 146 stores and sales areas and the reduction of 330 full-time jobs in Germany.
About Robus Capital
Robus Capital Management is an asset management company with offices in Frankfurt and London. Robus invests in all areas of a company’s capital structure following a holistic analysis. The investment focus is on debt instruments such as syndicated loans, bonds, promissory bill loans and convertible bonds from medium-sized issuers. Investments can be made through both the primary and secondary markets, and investments are also made in situations that are very complex and require in-depth analysis. The regional focus of Robus is Continental Europe and especially the German speaking countries.