Zoot prepares for restructuring at end of April
With two weeks before its court protection period from period runs out, the embattled Czech online retailer Zoot is strengthening its management team with outsiders. Having already hired two crisis managers in January (Lukáš Uhl and Robert Vojáček), Hospodářské noviny writes that Zoot has now added Jiří Tomola (Dentons) and economic advisers from PwC. The company, which has closed 12 of its 28 pick-up points and first 150 of its 500 employees, owes its creditors an estimated CZK 500m. The investment firm Natland holds over CZK 100m in bonds and has provided operational capital to keep the lights on at Zoot.