Brief: RNB's Subsidiaries Submit Request For Composition Negotiations

Coala-Life AB (publ)

21/09/2020 10:32

Sept 21 (Reuters) - Rnb Retail and Brands AB (publ)
 RNBS.ST :
    * RNB'S SUBSIDIARIES SUBMIT A REQUEST FOR COMPOSITION
NEGOTIATIONS
    * SUBSIDIARIES BROTHERS AB, DEPARTMENTS & STORES EUROPE AB
AND
POLARN O. PYRET AB HAVE TODAY SUBMITTED REQUESTS FOR COMPOSITION
NEGOTIATIONS AND EXTENSION OF CORPORATE REORGANIZATION TO
STOCKHOLM DISTRICT COURT
    * CURRENT REORGANIZATION PERIOD FOR ALL COMPANIES EXPIRES ON
23
SEPTEMBER 2020
    * COMPOSITION OFFERS ENTAIL FOR ALL COMPANIES THAT
NON-PRIORITY
CREDITORS RECEIVE SEK 10,000 AND 25 % OF EXCESS AMOUNT
    * COMPANIES HAVE TODAY APPLIED FOR EXTENSION OF CORPORATE
REORGANIZATION FOR PERIOD OF ANOTHER THREE MONTHS
    * IT CAN BE ASSUMED COMPOSITION WILL BE ESTABLISHED WITHIN
REORGANIZATION PERIOD THAT IS NOW REQUESTED TO BE EXTENDED

Source text for Eikon:  ID:nWkr9VbPL4 
Further company coverage:  RNBS.ST 

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