Business

Polare could reopen with investor help

By agrobinson on January 29, 2014 - 04:31

Bookstore Chain Polare is negotiating with two "interested parties" and is hoping to re-open its stores, according to CEO Jan van de Wouw to RTL Nieuws. Polare had to close 20 bookstores Tuesday, due to serious financial problems.

Van de Wouw did not want to disclose the names of the interested financers, but says: 'we are negotiating with two parties,'

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and 'the discussions are serious and have been ongoing for a while now,' adding 'It concerns parties that are willing to invest additional capital in our organization, in the range of 2 to 3 million euros.'

The staff will be able to stay on if the store manages to strike a deal with the two financers. Polare is striving to continue with all its stores including staff. 'We are optimistic about the future,' said Van Wouwen.