Flensburg, 26 March 2018 Beate Uhse Aktiengesellschaft (ISIN DE0007551400, WKN 755140) announces that its subsidiary Beate Uhse Netherlands B.V., which is in self-administration in preliminary insolvency proceedings, has today been granted a mass loan of EUR 5.0 million.
These funds are provided by Prime Capital Debt SCS, SICAV-FIS Robus Recovery Sub-Fund, which also granted Beate Uhse AG a mass loan of EUR 2.7 million in January 2018. The loan serves to maintain business operations within the framework of the self-administered insolvency and the further restructuring of the Group.
Michael Specht, CEO of Beate Uhse AG, emphasises: “With this mass loan, the Beate Uhse Group has the necessary room for manoeuvre to press ahead with the complete realignment in the context of insolvency and to enable the entry of a potential investor.”
About Beate Uhse AG:
Beate Uhse was founded in 1946 and is a European erotic company with around 345 employees (FTE) in seven countries. Beate Uhse stands for over 70 years of experience and expertise in the erotic industry and has a very high brand recognition. The focus is on B2C, which is covered by two central sales channels – e-commerce and stationary retail – and which are closely interlinked as part of the cross-channel strategy. The Beate Uhse share (XETRA: USE. DE) has been listed on the Frankfurt Stock Exchange since May 1999. More information can be found at www.beate-uhse.ag.
BBL is one of the leading law firms with an exclusive focus on reorganisation, restructuring and insolvency. The firm has extensive experience in complex restructuring projects both within and outside insolvency proceedings. More than 50 lawyers work at BBL in Germany and in London.
Further information: www.bbl-law.de
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