Fossil Reveals Approval of Sanction Order
Restructuring Plan Approval: Fossil Group's subsidiary, Fossil (UK) Global Services Ltd, received a High Court sanction for its restructuring plan, which involves canceling existing 7.00% Senior Notes and issuing new secured senior notes due in 2029.
CEO's Statement: CEO Franco Fogliato emphasized the importance of the court's decision in addressing upcoming debt maturities and enhancing liquidity to support the company's turnaround strategy.
Access to Information: Detailed documents regarding the restructuring plan, including the Explanatory Statement and Sanction Order, will be available on the designated Plan Website and through the SEC's EDGAR system.
Forward-Looking Statements Caution: The press release includes cautionary notes about forward-looking statements, highlighting various risks that could impact the company's future performance and restructuring efforts.
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