Home » Business » Fashion group FNG is going to file for bankruptcy Fashion group FNG is going to file for bankruptcy February 17, 2022 by world today news – © BELGIAN – FNG will file for bankruptcy at the company court in Mechelen on Friday morning, the fashion group reported on Thursday evening. The restart that the company was working on turned out to be no longer possible because the proceeds from a sale or IPO of the sole business activity, the Swedish web store Ellos, is no longer sufficient to repay the creditors and make the restart possible. – Source: BELGIAN Today at 18:02— Three companies will file for bankruptcy: FNG nv, FNG Finance Belgium bv and FNG Beheer NL bv, says a press release. “As a result of, among other things, the worldwide decline in the valuation of the e-commerce sector, the proceeds of a possible IPO or a sale of the sole asset Ellos Group would meanwhile be significantly lower than what is needed to repay creditors and maintain the sustainable restart, which has been worked on since mid-2020.” Waiting longer to file for bankruptcy would lead to additional arrivals, according to FNG, and there are currently no resources for this. Additional financing is also of no avail, it sounds. After the bankruptcy of the Benelux activities, FNG only comprised Ellos. — Related posts:KEPCO turned to surplus after 3 years... Last year's operating profit of 41 trillion won due to fal...Fraudsters steal money | Free pressPertamina failed to work on this refinery and made Ahok form a special teamCarefree going to the sun is no longer in it: code red for re... Video. A Bulgarian MEP gives a Nazi salute in the hemicycle of the European Parliament Verrell Bramasta & Natasha Wilona’s Relationship Status Revealed, Venna Melinda’s Son Revealed This Leave a Comment Cancel replyCommentName Email Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed. Search for: