Miss Etam and Claudia Sträter deeper into danger zone | Financial

The fashion group with more than 500 stores and 3000 employees is asking for a postponement from its bondholders for the third time in two months. On Tuesday, FNG came out with an invitation to bondholders for a general meeting on the issues the company is facing.

“In view of the exceptional economic conditions in which the group finds itself,” FNG requests its bondholders to take a payment break until December 31, 2020. This includes bonds of € 14.5 million, € 10 million and € 45 million.

In the meantime, the company wants to work out a future strategy and recovery plan. Two weeks ago, FNG considered a payment delay of three months to be sufficient.

The Steps chain was already in serious trouble early this year. Of the 50 Dutch stores, 38 would close, it was announced at the time. Miss Etam went bankrupt in 2015 and was then taken over by FNG.

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