Showroomprivé Secures Rescheduling of its 40 Million Euro Bank Debt
The online event sales specialist has signed a conciliation protocol with its main banking partners to restructure its debt, according to a statement released on Wednesday. The agreement provides for a 22-month postponement of repayment deadlines.
Details of the Debt Rescheduling
As of the date of the protocol signing, the group's bank debt consists of a refinancing amortizable loan with a principal balance of 20 million euros, and a fully drawn revolving credit of 20 million euros, the company indicates. The agreement, concluded under the supervision of Master Frédéric Abitbol, appointed conciliator by the President of the Bobigny Commercial Court, provides for a 22-month postponement of the remaining installments due under the refinancing loan. Specifically, two installments of 10 million euros each are postponed to October 2027 and October 2028. The maturity of the two credits is also extended by 22 months, until October 17, 2028, according to the statement.
Restrictions and Conditions Imposed
The protocol imposes several constraints on the group. Showroomprivé commits to not distributing any dividends or similar payments to shareholders until the full repayment of the restructured bank debt, the statement specifies. Financial covenants have been modified with the introduction of an annual EBITDA test. Mechanisms for early repayments are also provided in certain situations. These will apply if the group obtains incremental resources, notably in the event of a price supplement payment by the founders of The Bradery in the context of the sale announced on December 22, 2025, or if the cash exceeds a minimum level during the seasonal low point of activity.
Implementation and Future Projections
The implementation of the protocol remains subject to its acknowledgment by the Bobigny Commercial Court, in accordance with the provisions of articles L.611-8 and following of the Commercial Code, the group indicates. This agreement aims to secure liquidity, extend the maturity of the existing bank debt, and provide the group with the financial visibility necessary to continue its recovery trajectory, according to the statement. The group plans to close its 2024 accounts and publish its results by the end of January 2026. An Annual General Meeting for the fiscal year 2024 will be held before March 31, 2026. As a reminder, Showroomprivé achieved a gross business volume including taxes of nearly 1 billion euros and a net turnover of 650 million euros in 2024.
