Folli secures Links of London brand in deal with administrator

Folli Follie SA

29/01/2020 11:10

ATHENS, Jan 29 (Reuters) - Folli Follie  HDFr.AT  has
acquired the brand of its UK-based unit Links of London after an
agreement with its administrator, the Greek jewellery maker said
on Wednesday.
    Folli last November reached a preliminary rescue deal with
some of its creditors, four months after an audit revealed a one
billion euro hole in its 2017 reported revenue.  urn:newsml:reuters.com:*:nL8N2872UK
    Links of London entered administration in October, which has
lead to loss of 38 jobs at its head office in London.
 urn:newsml:reuters.com:*:nL3N27335A
    Folli said on Wednesday it had acquired the intellectual
property and related materials to the Links of London brand from
the administrator, securing the continued trading of the Links
of London brand in Greece and worldwide.
    It said the purchase would allow Folli to re-establish the
Links of London business, an important part of its restructuring
plan, free of previous liabilities.

 (Reporting by Angeliki Koutantou; editing by Jason Neely)
 ((angeliki.koutantou@thomsonreuters.com; +30 210 3376436;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))