Lagardère takes €465m state-guaranteed loan to counter effects of pandemic

Lagardère takes €465m state-guaranteed loan to counter effects of pandemic

Hachette UK's parent company Lagardère has taken a €465m French government-backed loan to help it cope with the economic fallout from the coronavirus pandemic. 

Although Hachette UK reported a "stellar" third quarter in November, with year-on-year growth of 15.6% and record download revenue for e-books and audio, its parent firm saw a year-on-year revenue decline of 38.3%, largely caused by declines in its travel retail business.

The group issued a statement on Monday (4th January) saying it had "consolidated its financial position" by arranging the government-backed loan and amending and...

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