The Spanish sports footwear and equipment group, Kelme, has indicated it is looking for a shareholder to help it through its current cash flow crisis.

The owners, Alicante-based brothers Diego and Jose Quiles, attribute the company’s problems to a series of investments and customer defaults, but say they have already secured an Eur9 million loan, sold some assets and carried out a Eur2.4 million capital increase. They have also stated their intention to restructure the company and consolidate its export, retail and branding operations under a single umbrella organisation.

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