'financial losses mount'

Losing toilet chain 2theloo is looking for a buyer

Dutch chain of public toilets 2theloo, active in Europe, sees financial losses continue to mount. This is what Het Financieele Dagblad reports. In its newly published annual report, the auditor stresses that the company’s future is uncertain because no agreement has yet been reached on the refinancing of a multimillion-dollar loan with the bank.

According to 2theloo director Chris Meijers, however, there is no cause for concern. The loan has now been extended by the house bank, and the company is working with various parties to refinance it, the director said in a comment to the newspaper. Meijers is confident that this will succeed, as operational results have improved by 2024.

Meanwhile, major shareholder Avedon Capital Partners is said to be actively looking for a buyer for the company, according to sources consulted by the FD. One of these sources claims that a deal with a German party is even close to being concluded. This would possibly involve Sanifair or CWS, the German company that previously took over Tilburg-based toilet operator Vendor.

(Sources: Het Financieele Dagblad/ANP MediaWatch)

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This article was automatically translated from the Dutch language original to English.

Author: Belinda Meijers

Source: MobilityEnergy.com

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