Brief: Bikeexchange Announces Review Of Kitzuma Bike Delivery Business

Bikeexchange

28/02/2023 24:53

Feb 28 (Reuters) - Bikeexchange Ltd  BEX.AX :
    * REVIEW OF KITZUMA BIKE DELIVERY BUSINESS
    * MADE A DECISION TO NOT RESTART KIZTUMA BIKE DELIVERIES
    * KITZUMA BOXED DELIVERY AND WAREHOUSE/3PL SERVICES WILL
CONTINUE
TO OPERATE
    * REVIEW LED DIRECTORS TO FULLY WRITE-DOWN GOODWILL AND
WRITE DOWN
RELATED BIKE DELIVERY ASSETS TO THEIR RECOVERABLE AMOUNT
    * WRITE-DOWNS RESULTING IN IMPAIRMENT LOSSES OF A$5.3M BEING
RECOGNISED IN HY1 FY23

Source text for Eikon:  ID:nASX99F3z 
Further company coverage:  BEX.AX 

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