PDL United avoids bankruptcy — raises over 24 million euros

Padel giant actor PDL United secures new funding and manages to stop the acute bleeding, The Swedish site Breakit reports.
According to the site, a Danish actor has invested money in PDL United.

As Padel Alto previously reported, Sweden's most significant padel actor PDL United has been in a serious crisis, as it sought new capital from investors in early December to avoid restructuring or, in the worst case, bankruptcy.

According to the prospectus, PDL United needed to raise nearly 33 million euros before 23 December.

”New major financier”

According to information provided by Swedish tech site Breakit, a Danish financier has now stepped in with a total of over 24 million euros. At the same time, the company is said to have secured loans and guarantees of a further 3,5 million euros - thus avoiding the acute crisis for PDL United.

A source with insight into the company states that information went out on New Year's Day to shareholders that new financing was secured:

"The issue puts the company in a position to restore profitability and stability going forward', the letter states.

According to Breakit, the Danish financier is "Capital Four," a provider of various loan solutions to growth companies, and they are now PDL United's most prominent financiers.

Despite the money raised, PDL United was forced to close its giant facility, Padel United Arena in Gothenburg, the day before yesterday. The club, which has 17 courts, will soon be closed completely.