GERRY WEBER INTERNATIONAL AG
Gerry Weber International AG: Promissory note loan providers grant deferment until January 2019
Gerry Weber International AG / Key word(s): Financing/Forecast Ad-hoc announcement pursuant to section 17 MAR Promissory note loan providers of GERRY WEBER grant deferment of outstanding loan receivables until January 2019 (Halle/Westphalia, 13 November 2018) The outside creditors of GERRY WEBER International AG, with outstanding loan receivables due on 5 November 2018, have come to an agreement with the group over a deferment of outstanding loan receivables. The deferment agreements remain valid until the end of January 2019 and are yet another substantial partial step in the comprehensive restructuring measures of the company. In parallel, the financing banks keep their credit lines open for GERRY WEBER. In face of the initiated transformation process as well as the first analysis of the developments in the fourth quarter of the just finished financial year 2017/18 (31 October), the Managing Board of GERRY WEBER International AG reviewed and adjusted the current earnings and profit forecast: The Managing Board now expects sales of up to 790 EUR million (previously: between 830 and 840 EUR million) and significant operational losses on earnings before interest and taxes (EBIT) (previously: between -10 and 0 EUR million). The EBIT deficit will be largely shaped by accruals for personnel related measures and store closures, as well as extraordinary depreciation and impairments. The Managing Board Notifying Person:
13-Nov-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Gerry Weber International AG |
Neulehenstraße 8 | |
33790 Halle/Westfalen | |
Germany | |
Phone: | +49 (0)5201 185-0 |
Fax: | +49 (0)5201 5857 |
E-mail: | info@gerryweber.com |
Internet: | www.gerryweber-ag.de |
ISIN: | DE0003304101 |
WKN: | 330410 |
Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; SIX, Vienna Stock Exchange |
End of Announcement | DGAP News Service |