SEK 45m · Other round · Fashion · Stockholm, Sweden
Stockholm eyewear brand Chimi has raised SEK 45m through a new share issue as part of its court-approved reconstruction, according to Breakit reporting summarised by MainSights. eEquity guaranteed the issue and increased its ownership from 21% to 31%, becoming the company's largest shareholder. The capital injection sits alongside a creditor settlement intended to reduce a debt burden that had approached SEK 100m.
The new equity and the creditor settlement are separate parts of the restructuring. Reporting says unsecured claims were written down by 73%; the SEK 45m headline is the share issue, not the amount of debt relief.
A recapitalisation, not a growth round
Chimi says it was founded in Stockholm in 2016 by Daniel Djurdjevic and Charlie Lindström. It designs sunglasses, optical frames and performance eyewear, selling through its own online and physical stores as well as retail partners including Selfridges, Le Bon Marché and Rinascente.
That distribution footprint can broaden reach, but it also ties cash to inventory, store commitments and supplier relationships. Chimi entered reconstruction after rapid expansion, a discontinued clothing push and weaker consumer demand left the business unable to meet its obligations. The new share issue is therefore best understood as rescue equity: it supplies fresh liquidity while the reconstruction reduces legacy claims.
The two parts work together. New capital without debt relief could be absorbed by old obligations; write-downs without fresh cash would leave little room to fund stock and day-to-day operations. For suppliers, that makes the turnaround costly even as it gives the brand a route out of reconstruction.
Earlier reconstruction reporting identified cost reductions, tighter purchasing and a planned share issue as the route toward stabilisation. The completed financing now puts capital behind that plan, but it does not establish that the operating turnaround has already succeeded.
eEquity takes the largest stake
eEquity's increased ownership gives an existing investor more exposure to the outcome rather than bringing in a new lead. That can simplify decision-making during a turnaround, but it also means the financing is not evidence that Chimi has already returned to durable growth or profitability.
The commercial test comes after the legal and financial reset. Chimi must use the liquidity and lower debt burden to keep products moving through its direct and wholesale channels while controlling the expansion costs that contributed to the crisis. Its established brand and international retail presence remain assets; the next proof point is whether they can generate enough recurring cash to support the business without another rescue round.
