Magasin du Nord buys back its stores
What: Magasin du Nord has repurchased 4 of its most strategic stores.
Why it is important: Controlling the real estate is the best way to be prepared for future potential crisis, as Magasin du Nord is not rent-dependent anymore.
Magasin du Nord has repurchased four stores to ATP and PensionDanmark pension funds, including the Kongens Nytorv flagship store in Copenhagen, but also the Lyngy, Aarhus and Odense stores, which are the most performing ones.
They have been rented by the retailer for the last 10 years and are now fully controlled by Magasin du Nord, which sees this transaction as a way to regain control of their own future.