Takko l'ho avuta e mi mandano ancora email,che ho letto solo ora quindi sarà già nota
Telgte, 15 May 2020
Takko (the “Group”), a leading European apparel retail group, today announces a suspension of interest payments on its Senior Secured Notes
Following significant revenue declines as a result of retail store closures in connection with the COVID-19 crisis in Germany and other European countries, the Group’s management has taken extensive steps to improve the Group’s capital and liquidity situation.
As part of these measures, the management has decided to suspend interest payments on its Senior Secured Notes maturing in November 2023.
For the purpose of a rigorous capital and liquidity management, the Group is confident that this step will help to bolster the Group’s liquidity.
At this stage, the full impact of the COVID-19 crisis is uncertain and therefore its full impact on the Group, and the Group’s liquidity, remains uncertain.
The Group’s management intends to continue to work towards a long-term solution for the Group and its capital structure and will evaluate all options for the business. To this aim Gleiss Lutz, One Square Advisors, Simpson Thacher & Bartlett LLP and Wellensiek Rechtsanwälte have been appointed as advisors to the Group.