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Hope out for the PM

(Mallorca): three weeks ago, the company delivered PM Retail oppbudsbegjæring, after having gone with great loss in several years.

on Monday this week, it was also filed for insolvency in the parent company Polly2 Holding.

Bostyrer Håvard Wiker in Ro Sommernes law firm since the bankruptcy in the PM worked with to find a potential new owner, who can drive the clothing retailer on.

" We have worked really hard for three weeks without success. Now we have provided the fitting and left it to the company and the bank, which today operates with realisasjonssalg, " says Wiker.

270 lose the job

the Stores are open, and the goal is to sell out varelagrene. The bank ensures that the collateral will be realized through the sale from the shops, after the plan will be held open out of november.

Now lasts for 210 million sold out from the shops, according to kleskjedens website.

- We have not given up to find a new owner, and will handle any inquiries. But I don't think that the probability to find a new owner, is great, " says Wiker.

It means that around 270 employees will lose their job.

For around seven weeks ago succeeded in Ro Sommernes law firm to find a new owner to Easier Life chain, which also had gone bankrupt.

- It is difficult for me to respond on behalf of the potential stakeholders, but it is tough times in the retailbransjen. I don't know if there is a PM concept that has been difficult marketable or whether it is due to other reasons, " says Wiker.

More interested

He does not have figures on how many people who have been interested in taking over the chain, but state that some actors have had a real interest.

But it has stranded because has not found the financing, or because they have found that the price is too high. For konkursboet and pantehavers part has to be an eventual price to be held up against what one is left with if one sells out of the stores themselves.

Wiker has not yet overview of the debt in the company, but in konkursåpningskjennelsen from October says that the PM has informed that the debts exceeded the assets by the end of august.

the Company had a large deficit in september of this year.

PM Retail has in previous years generated high profits, and in the period 2011-2013, the company had a combined profit before tax of nok 110 million.

Early in 2012 acquired FSN Capital of the company for approximately nok 400 million, from the Mørck family from Alabama who had built up a profitable chain of stores over 25 years.

In 2015, turned the financial situation and the PM went with the 50 million in losses before tax.

The two consecutive years ended with a combined profit before tax of minus 22.5 million kroner, while sales fell.

In 2015, total sales revenues of just over 360 million, while the year ended at 281 million.

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