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El Ganso secures loan of 7.5 million euros to improve its liquidity
The fashion brand El Ganso has improved its liquidity by securing a loan of 7.5 million euros from various Spanish family offices and from the owners of the company, the Cebrián family.
In addition, the company has recently repaid €1.5 million of its debt to Bravo Capital, as reported by the economic newspaper Expansión. This move follows a €3 million repayment made in February, leaving Bravo Capital with only €2 million of the company's debt.
Despite the new loan reducing the fashion group's debt to €9.5 million, private investors and the Cebrián family now hold the majority of the liabilities. El Ganso has also managed to extend and make its debt repayment terms more flexible, while planning to pay off the remaining debt to Bravo Capital within the agreed timeframe.
This new loan will provide the company with greater liquidity for its daily operations, such as purchasing merchandise and timely delivery to its stores. With this improved financial position and in light of its recent financial results (having increased its revenue by 20% to 60 million euros in 2022), the company plans to achieve sales of between 67 and 70 million euros in 2023. So far this year, its revenue has increased by 15% compared to the previous fiscal year.
In addition to increasing sales, El Ganso's goal is to register a positive net profit for the first time in four years, something it already came close to achieving in 2022. The fashion brand currently operates 162 points of sale, including stores in Spain, corners in El Corte Inglés, and spaces in France, Mexico, Chile, and Portugal.
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