Latest news with #HellmanFriedman
Bloomberg
8 hours ago
- Business
- Bloomberg
Europe's IPO Drought Has Stock Exchanges Battling for Listings
As fewer large companies opt to go public in Europe, the region's stock exchanges are fighting harder to win the biggest listings. Stockholm, Amsterdam, Zurich and London recently went head-to-head to vie for Hellman & Friedman's initial public offering of Verisure. The Swedish exchange proved triumphant due to the €20 billion ($22.8 billion) security firm's history in the country and the strength of the local investment community, according to people familiar with the matter.
Daily Mail
28-05-2025
- Business
- Daily Mail
Report: Home chain with 200 stores across 40 states plots bankruptcy
Another home decor retailer is teetering on the brink of bankruptcy. At Home, the Texas-based home chain with 200 stores nationwide, is preparing to file for Chapter 11 protection in the coming weeks, according to Bloomberg . The company reportedly missed a critical interest payment on May 15. It has until June 30 to chart a path forward, which may include bankruptcy. The retailer, a competitor to online brands like Wayfair, entered private equity ownership in 2021 when Hellman & Friedman acquired it for $2.8 billion. At Home sells low- and mid-tier decor across 40 states, with products ranging from $30 area rugs to $450 accent chairs. But the products have failed to capture consumer imaginations, according to Neil Saunders, managing director and retail expert at GlobalData. 'They have way too much debt, their stores are not particularly interesting, and they are being beaten on price and interesting assortments by chains like IKEA and HomeGoods,' Saunder said. He added that the company could look to close some of its underperforming stores if it files for bankruptcy, but cautioned: 'This remains to be seen.' Bankruptcy rumors started swirling around the brand in mid-April , when reports emerged that the business was mired in more than $2 billion in debt and tangled in the fallout of President Donald Trump's tariff regime. At Home sources most of its inventory from China. Trump's policies could force the company to take on even more debt — or raise prices on already price-sensitive products. Right now, products made in China face a 30 percent tariff rate . At Home has been trying to pivot away from Chinese suppliers since late 2023, Bloomberg noted, with recent efforts to forge relationships with manufacturers in India. But that shift takes time, and retail experts have long warned that brands are likely to pass rising costs along. India is currently negotiating with US officials to remove a currently-paused 26 percent tariff. At Home isn't the only struggling home retailer. Home improvement retailers saw a pandemic-era boom between 2020 and 2021, when lockdowns inspired a wave of home redecoration. But shoppers, worn down by years of inflation , have pulled back from discretionary spending. 'Although inflation has been easing, overall prices are still significantly higher than pre-pandemic levels,' Tim Hynes, Debtwire's global head of credit research, told 'There is a notable shift away from discretionary goods, such as home furnishings, towards essential items and experiences.' That shift has contributed to a wave of bankruptcies across the industry. Since 2022, Bed Bath and Beyond , Christmas Tree Shops , Bargain Hunt , Conn's , LL Flooring , and The Container Store have all filed for Chapter 11 protection. LL Flooring (formerly known as Lumber Liquidators) and The Container Store have since exited bankruptcy proceedings. The rest shuttered their physical locations entirely. Hynes noted that if At Home follows suit, consumers could see short-term gains in the form of steeper promotions and discounted merchandise. But in the long run, Trump's tariff policies could keep costs elevated for both businesses and shoppers.
Daily Mail
28-05-2025
- Business
- Daily Mail
IKEA rival with 200 stores across 40 states plots bankruptcy as it struggles with Trump's tariffs
Another home decor retailer is teetering on the brink of bankruptcy. At Home, the Texas-based home chain with 200 stores nationwide, is preparing to file for Chapter 11 protection in the coming weeks, according to Bloomberg. The company reportedly missed a critical interest payment on May 15. It has until June 30 to chart a path forward, which may include bankruptcy. The retailer, a competitor to online brands like Wayfair, entered private equity ownership in 2021 when Hellman & Friedman acquired it for $2.8 billion. At Home sells low- and mid-tier decor across 40 states, with products ranging from $30 area rugs to $450 accent chairs. But the products have failed to capture consumer imaginations, according to Neil Saunders, managing director and retail expert at GlobalData. 'They have way too much debt, their stores are not particularly interesting, and they are being beaten on price and interesting assortments by chains like IKEA and HomeGoods,' Saunder said. He added that the company could look to close some of its underperforming stores if it files for bankruptcy, but cautioned: 'This remains to be seen.' Bankruptcy rumors started swirling around the brand in mid-April, when reports emerged that the business was mired in more than $2 billion in debt and tangled in the fallout of President Donald Trump's tariff regime. At Home sources most of its inventory from China. Trump's policies could force the company to take on even more debt — or raise prices on already price-sensitive products. Right now, products made in China face a 30 percent tariff rate. At Home has been trying to pivot away from Chinese suppliers since late 2023, Bloomberg noted, with recent efforts to forge relationships with manufacturers in India. But that shift takes time, and retail experts have long warned that brands are likely to pass rising costs along. India is currently negotiating with US officials to remove a currently-paused 26 percent tariff. At Home isn't the only struggling home retailer. Home improvement retailers saw a pandemic-era boom between 2020 and 2021, when lockdowns inspired a wave of home redecoration. But shoppers,worn down by years of inflation, have pulled back from discretionary spending. Analysts told Daily Mail that the bankruptcies can lead to short-term bargain opportunities for home products - but they warn prices are likely to rise Meanwhile, furniture brands that have focused on modularity and low pricing, like IKEA, received praise for their consistent consumer interest 'Although inflation has been easing, overall prices are still significantly higher than pre-pandemic levels,' Tim Hynes, Debtwire's global head of credit research, told 'There is a notable shift away from discretionary goods, such as home furnishings, towards essential items and experiences.' That shift has contributed to a wave of bankruptcies across the industry. Since 2022, Bed Bath and Beyond, Christmas Tree Shops, Bargain Hunt, Conn's, LL Flooring, and The Container Store have all filed for Chapter 11 protection. LL Flooring (formerly known as Lumber Liquidators) and The Container Store have since exited bankruptcy proceedings. The rest shuttered their physical locations entirely. Hynes noted that if At Home follows suit, consumers could see short-term gains in the form of steeper promotions and discounted merchandise. But in the long run, Trump's tariff policies could keep costs elevated for both businesses and shoppers. 'While some supply chain issues have stabilized, geopolitical risks and the potential for increased tariffs on imported goods introduce uncertainty,' Hynes added. 'Retailers like At Home, which rely heavily on imported products, could face higher procurement costs and potential disruptions if tariffs are implemented.'
Bloomberg
28-05-2025
- Business
- Bloomberg
Retailer At Home Prepares to File for Bankruptcy in Coming Weeks
At Home Group Inc. is preparing to file for bankruptcy under a Chapter 11 reorganization in the coming weeks, among other options to shore up liquidity, according to people with knowledge of the matter. The Hellman & Friedman -owned home-decor retailer has been facing a cash crunch in recent months, which has been complicated further by the US' tariffs and trade war.
Bloomberg
23-05-2025
- Business
- Bloomberg
H&F Picks Stockholm for €20 Billion Security Firm Verisure's IPO
By , Swetha Gopinath, Vinicy Chan, and Ruth David Save Hellman & Friedman has selected Stockholm as the preferred venue for an initial public offering of security firm Verisure, according to people familiar with the matter. The US buyout giant has added Nordic lender DNB Carnegie as a joint global coordinator for the planned listing, the people said, asking not to be identified as the discussions are private. Goldman Sachs Group Inc. and Morgan Stanley are leading the lineup of advisers for the deal, Bloomberg News has reported. A listing could value Verisure at more than €20 billion ($23 billion) including debt, the people said.
