1515
RNB RETAIL AND BRANDS: Stockholm District Court has accepted the settlement proposal put forward by the subsidiaries of RNB Retail and Brands AB (publ)

During a creditors' meeting today, Stockholm District Court accepted the settlement proposal put forward by the subsidiaries of RNB Retail and Brands AB (publ) - Brothers AB, Departments & Stores Europe AB and Polarn O. Pyret AB.

The creditors also accepted the proposal. The decision by Stockholm District Court entails that the corporate reorganization, that began on March 23, 2020, will end when once the decision becomes legally binding. The decision by Stockholm District Court can be appealed during the first three weeks. The corporate reorganization is expected to be completed on November 6, after which the companies can return to normal payment terms.

"Thanks to our joint efforts, the corporate reorganization has progressed according to plan, and we have managed to get this far. We have taken some drastic measures, both financially and operationally, to improve the companies' financial standing and to build a solid base for the future. The only thing that remains now is to wait until the decision becomes legally binding. We can then end the corporate reorganization," said Kristian Lustin, CEO of RNB Retail and Brands.

The settlement proposal accepted by the Stockholm District Court means that creditors will receive payment for receivables up to SEK 10,000 and 25 per cent on excess amounts for the subsidiaries' non-priority receivables.

Source: Cision
Tillbaka

Det verkar som att du använder en annonsblockerare

Om du är prenumerant behöver du logga in för att fortsätta. Vill bli prenumerant kan du läsa Di Digitalt för 197 kr inkl. moms de första 3 månaderna.

  • Full tillgång till di.se med nyheter och analyser

  • Tillgång till över 1100 aktiekurser i realtid

  • Innehållet i alla Di:s appar, tjänster och nyhetsbrev

3 månader för
197 kr
Spara 1000 kr

Prenumerera

Redan prenumerant?