DiR refinances 6 million bank debt until 2026



DiR has managed to refinance more than 6 million euros of bank debt until 2026

(22-2-2022) The Catalan chain of gyms DiR has reached an agreement with different banks to extend the maturity of 6.1 million debt until 2026. Its founder, Ramon Canela, also injected 1.5 million through a capital increase.

DiR saves time after refinancing part of its debt. The Catalan gym chain has agreed with up to eight banks to postpone until 2024 a payment of 6.1 million euros that was due in 2024, according to Expansión. This operation gives oxygen to the banner, which has been hit hard by the pandemic. In 2020 it suffered a 50% drop in revenue, the equivalent of 25 million euros, and recorded losses of 8 million. The accounts for the 2021 financial year have not yet been disclosed.

According to the aforementioned medium, the chain is continuing with its partner recovery plans and approximately 89% of the subscribers it had before the pandemic have already returned to its facilities. In other words, it would be 11% below February 2020.

To this financial operation, the chain has added another: a capital increase worth 1.5 million euros carried out by its main shareholder, the Canela family, with its founder, Ramon Canela, at the helm. At the end of last January, the chain announced a capital increase with which they expected to obtain 886,775 euros through private investors:

In addition to the aforementioned debt, the chain has to face this year commitments such as the 3.8 million requested in the form of credits with the guarantee of the ICO, or the 11.5 million committed to the bondholders. The company also requested to take advantage of loans guaranteed by Sepi and Cofides, for an approximate value of 25 million euros, but these requests did not prosper. Yes, the request to Avançsa did, which granted them 2.6 million.

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