Input 2021.01.06 15:31 | Revision 2021.01.06 15:35
Distribution family that’selects and concentrates’… speeding up insolvent business
It was confirmed on the 6th that SPC Group, which operates Paris Baguette, Dunkin Donuts, and Baskin Robbins, sold SPC Capital, a credit finance affiliate, to ES Financial. SPC Capital is a place where SPC Group’s franchisees lend start-up funds and receive interest, and some criticized it for playing interest against self-employed people. The sale price is known to be around 30 billion won. An official of the SPC Group said, “We cannot disclose the specific sale price,” and said, “The intention is to focus on the main business instead of the capital business.”
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SPC Group is determined to withdraw from the credit finance business and focus on the food business. At the New Year’s speech, Chairman Heo Young-in said, “We will manage the taste and quality, which are the sources of the company’s competitiveness, with the highest priority.” I will.”
In preparation for the post coronavirus infectious disease (Corona 19) era, a move to clear up insolvent businesses is spreading throughout the distribution industry.
CJ Group has withdrawn from its major food service businesses, excluding Bibigo, Mongjungheon, and VIPS, and is focusing on strengthening HMR. The company is in final negotiations to sell Tous Les Jours, a bakery specialty store, to Carlyle, a global private equity fund (PEF). The industry expects the sale to be completed in the first half of this year. Twosome Place, a coffee shop, was also sold to Anchor Equity Partners, a private equity fund in July last year. This is because the capital erosion of CJ Foodville, a subsidiary that operated the two companies, lasted for several years (total capital was less than paid-in capital due to accumulated deficits). The fine dining (high-end restaurant) business is also being organized. Dadam (Hanjeongsik) and Uo (Japanese) were closed. This is because Fine Dining has a small number of stores and it is difficult to make a profit.
On the other hand, CJ CheilJedang, which focused on HMR, made a profit of 3119 billion won (excluding CJ Logistics) in the third quarter of last year. This is a 72% increase over the same period last year.
Samyang Group also closed Seven Springs business in April last year after 14 years. The salad buffet once grew by increasing the number of stores to about 20, but the number of stores decreased as the popularity of family restaurants withered. Samyang F&B, which operates Seven Springs, recorded a deficit in 2013 and incurred an operating loss of 2.2 billion won in 2019. An official of Samyang Group said, “We have decided to withdraw from the restaurant business,” and “We will carry out a selection and focus strategy at the group level, such as entering the global market for core chemical and food businesses.”
E-Land also announced that it would sell women’s clothing businesses such as Roem. The company has decided to sell Samsung Securities as a sales advisor and is making a sale with potential investors. An official from E-Land said, “We will focus on fast fashion (SPA), sports, and online platform business.”
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