DNB will take over Nille shops in order to save the discount price chain from bankruptcy. The chain has over 360 shops with a total of 2,000 employees in Norway.
To Dagens Næringsliv newspaper, Communications Director,Thomas Midteide of DNB stated that Nille owed the bank money and that the takeover came to secure DNB’s own loans.
“This is also the best solution for Nille’s employees, customers, and partners as the situation stands now,” said Midteide.
The chain has been owned by the British acquisition fund, BC Partners,and has 360 shops with 2,000 employees in Norway. In addition, Nille has 30 shops in Sweden.
Dagens Næringsliv reported that DNB has put in Reidar Mueller as chairman of the company.
‘’He was also in Kid. We put the best people onto it and then we try to turn the business around,” said Midteide.
Source: NRK / #Norway Today