Denmark’s richest family – the family Kirk Kristiansen, owner of Lego will probably lose billions as a result of the corona-crisis.
Not enough with that Lego has closed most of its 150 brandbutikker, so it is also bad for the closed Legoland theme parks, writing Finance.dk. And the loss can be so large that the family can smoke far down on the list of world’s richest.
It assesses the Søren Jakobsen, who is the author of several books on Legofamilien and its economic conditions.
“It will be game. I would think it is the Danish family who are going to lose the most money on the coronaen – I am sure,” he says tl B. T.
the Problem is that Lego owns a large part of the Merlin Entertainment, which owns the Legoland theme parks. Because of coronavirusudbruddet many of the parks closed, and this leads to the styrtbløder.
According to finance.dk has the parks probably, like last year, very large expenditure of several billion semi-annually, although they for the time are unlikely to have a particularly large income.
And it will be felt in the bank.
It is Legofamiliens pengetank Kirkbi, which owns 50% of Merlin Entertainment. The other half is owned by the controversial private equity firm Blackstone and canadian pension fund CCPIB.
Merlin is in advance debt with a debt, which the credit rating agency Moody’s estimated would be at 3.8 billion pounds, as Lego along with Blackstone chose to delist the company from the stock exchange last year.
According to finance.dk is the bonds behind merlin’s debt has fallen from just below the path 110 for about a month ago to now around the course 75.
How hard Lego may be affected by the corona-the crisis depends on how long the legoland theme parks remain closed.
Søren Jakobsen is however not in doubt that there is a large billions.
“A guesstimate is that it’s going to cost them 30-40 million dollars,” he says.
it Becomes, as the author predicts, then the family, however, probably enough to handle it. According to Berlingske tidende, the family fortune estimated at 186 billion dollars.
The latest accounts for the 2019 showed a record earnings of eur 8.3 billion.
“of Course it gets ugly, but they’re not going to suffer any distress. They are going to smoke far down on the list of world’s richest – but they come again,” says Soren Jakobsen.
Although the family probably gets a gigantic milliardtab, so it is probably worse with another Danish musician – namely, Bestseller-owner Anders Holch Povlsen. He has, in fact, quite different challenges.
Rigmanden, which is Denmark’s richest individual, has been as hard hit by the coronakrisen that his company modetøjskoncern Bestseller has fired 750 staff – the equivalent of 15 percent of the workforce.
“Legofamilien are better off than Anders Holch Povlsen is. The spring collection he can throw out – like the garden centers can forårsblomsterne,” says Søren Jakobsen, who believe that the sale of lego bricks hardly gets hit so hard – especially not if coronakrisen when going over before the christmas sales.
Restructuring has not wanted to comment on the development of the Merlin Entertainment across finance.dk. B. T. also on Tuesday night tried to get a comment. It is not yet succeeded.