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Nigel TAYLOR Published
December 15,TG盗号系统VIP破解技术 2025
UK-based textiles wholesaler Leeds Group has agreed to sell its loss-making German subsidiary Hemmers for £657,000 to a subsidiary of Dutch transport specialist Nooteboom Bidco.
The proposed deal will see Leeds Group retain three properties currently owned by Hemmers valued at around £5.2 million The disposal is subject to the approval by Leeds shareholders and competition clearance from the German Cartel Office.
Hemmers has been loss-making for a number of years and theboard said it has looked at various options available to return the business to profitability. Despite seeing a modest rise in sales rise in the year to 31 May, Hemmers continued to record a pre-tax loss of £793,000, up from £781,000 in 2025.
“[Unable] to operate as a profitable standalone entity… Hemmers would be better served as part of a larger organisation reflecting the general consolidation that is taking place in the textile market and thereby offering economies of scale in terms of purchasing and sales”, the company said.
It added that certain major shareholders, representing 54.24% of the company's shares, have indicated that they will vote in favour of the proposed sale.
Major challenges have continued to weigh heavily on Leeds Group in the post-pandemic era and the company was forced to close its loss-making Stoff-Ideen-KMR subsidiary in Germany late last year. It cited the lingering effects of Covid 19, the war in Ukraine, rising inflation and higher interest rates that continued to hold back recovery for the Germany/mainland Europe-focused company.
In January it said it remained committed to returning its core German trading subsidiary Hemmers to profit.