Gordon Brothers Europe provides financial support to Miró
Gordon Brothers Europe, a firm specialising in restructurings for the retail, commercial, and industrial sectors, announced it has provided over €5 million of capital to support Spanish electrical retailer Miró, which has successfully come through the liquidation proceedings it entered into in February 2014. Springwater Capital acquired the Barcelona based retailer from the administrator on November 17th.
Gordon Brothers Europe has provided Miró with additional capital, totalling in excess of 5 million euros, in order to prepare for a new phase of growth for the Company.
Miró is now in a better position to re-launch its activity and strengthen the range of products available at its stores, and will benefit from improved levels of stock and working capital for the Holiday campaign and beyond. The company employs 467 workers and operates 67 points of sale across Spain.
Eli Appelbaum, Managing Director - Investment & Finance at Gordon Brothers Europe, commented: “We are very pleased to be providing Miró the capital and know-how and contribute to the future of the business. This is our third transaction in the Spanish market in the past year, and we will continue to seek opportunities to support companies going through a period of transition or financial restructuring, where our capital and expertise can give the business an opportunity to succeed.”