Nordian renegotiating acquisition of J-Club - report

J-Club sells jewellery and accessories via department stores. The company has 1,200 staff and was valued at tens of millions of euros, according to the report.

Many of the stores in which J-Club sells its products have been closed due to social distancing advice, which has had a significant impact on its revenues.

Nordian signed the deal to acquire the company in January 2020, according to the report.

Nordian is currently investing from its third vehicle, which held a final close in June 2019 on €320m. The vehicle targets Netherlands-based mid-market companies.

Nordian had not responded to a request for comment at the time of publication.

Many PE-backed deal processes have been suspended or otherwise affected by Covid-19. Unquote sister publication Debtwire reported that the sale of Ardian's D&B Audiotechnik was halted in mid-March 2020, with sources citing concerns regarding the demand for the audio equipment manufacturer's products following widespread cancellation of events.

Click here to view a list of PE processes affected by the coronavirus outbreak.

Click here to view Unquote's coronavirus content hub, a compilation of our coverage of the impact of the Covid-19 on the European private equity market.

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