Finnish restaurant operator NoHo shares jump on financing deal
03/04/2020 08:28
April 3 (Reuters) - Shares in NoHo Partners NOHOP.HE
jumped over 20% early on Friday after the Finnish restaurant
operator said it had reached a deal over financing package of 34
million euros ($36.8 million).
"The financing will be used for the company’s operations
during the crisis and for the management of working capital,"
NoHo said in a statement.
NoHo operates some 250 restaurants, cafes and nightclubs in
Finland, Denmark and Norway.
It has said a Finnish government decision to shut
restaurants except for takeaway sales would hit it hard.
NoHo said its monthly turnover during the state of emergency
will be over 1 million euros versus monthly expenses of 2–3
million, depending on lease negotiations.
($1 = 0.9239 euros)
(Reporting by Tarmo Virki in Tallinn; editing by Jason Neely)
((tarmo.virki@thomsonreuters.com; +372 564 4562;))