The mixing group Baywa, which is deep in the crisis, comes at the Renovation forward. The company said that they had agreed with core banks and major shareholders on an updated financing concept and an updated renovation agreement by 2028. On this basis, the restructuring plan operated since the end of January is also to be adjusted.
In February, the BayWa reported an additional financing requirement for its daughter Baywa Re in the amount of 435 million euros. In March the plan for the new financing concept, which is now signed. The Chief Restructuring Officer of BayWa, Michael Baur, praised the short -term provision of the additional liquidity required for the updated financing concept. It illustrates the trust of the financing partners and major shareholders into the transformation of the Baywa.
Hundreds of jobs already dismantled
Meanwhile, the planned cuts in the event of workforce and locations are also progressing: the BayWA wants to delete 1,300 full -time positions in total, and more than half of which have now been broken down. At 15 out of 26 locations that are to be closed, there is now a closure date.
The new Baywa boss Frank Hiller praised the progress: They sent “a clear signal to customers and suppliers: the BayWa is on the right track,” he said. She focuses on her core business again.
High losses last year
The Baywa is deep in the crisis. In the first nine months of 2024, the group, including Baywa RE, wrote over 640 million euros in net loss. The cause of the crisis is an unsuccessful expansion to credit in the past decade. Baywa, which emerged from the cooperative movement, is the largest German agricultural dealer and plays an important role in agriculture and food supply in the south and east of Germany.
© dpa-infocom, dpa: 250408-930-427022/1
