All Corporate articles – Page 20
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ArticlePierer Mobility announces sharpened strategy, sells non-e-bike business
The Executive Board of Pierer Mobility AG has announced its strategic decision to focus even more intensely on the core business of Powered-Two-Wheelers (PTW; motorcycles and e-bikes). One of the consequences is the sale of the non-e-bike division, which has already been initiated. In addition to the sale of the ...
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ArticleInsolvent WiggleCRC’s new business model focuses on the UK
In the wake of the insolvency of Signa Holding, the British subsidiary WiggleCRC of Signa Sports United (SSU) also had to file for insolvency on Oct. 24. The appointed administrators Anthony John Wright and Alastair Rex Massey of London-based management and restructuring consultancy FRP Advisory have now announced a new ...
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News briefsVista Outdoor completes CEO transition, two co-CEOs
As part of the previously announced company split and the acquisition of the ammunition business by Czechoslovak Group a.s. (CSG), Vista Outdoor has appointed Eric Nyman and Jason Vanderbrink as co-CEOs, according to an SEC filing. They succeed Gary McArthur, who had been interim CEO of the company since November ...
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News briefsShimano stolen data have been leaked online
Shimano suffered a ransomware attack earlier in November. Hackers from the LockBit group threatened at the time to publish 4.5 TB of confidential data unless the Japanese firm paid a ransom, as first reported by Escape Collective. Now, a vast trove of stolen Shimano data has been leaked online, according ...
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News briefsCraft North America to move to New Wave’s Seattle HQ to bolster demand, new CEO
Craft Sportswear North America announces the phased relocation of its US headquarters to Seattle, Washington, in 2024. The company will join the family of brands owned by parent company New Wave Group, which is based there. This strategic decision is intended to support the brand’s expansion into outdoor and specialty ...
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News briefsReju and Technip Energies launch textile recycling initiative
Reju, led by former Under Armour CEO Patrik Frisk, focuses on scalable PET recycling solutions using IBM’s VolCat technology for sustainable textile regeneration.
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ArticleDevold: 170 years of wool garments made in Europe
The Outdoor Industry Compass spoke with Herbert Horelt, Managing Director of Devold of Norway GmbH, and Tor Jonsson, General Manager at UAB Devold.
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News briefsHartmobile applies for a temporary suspension of payments
The current tense situation in the bicycle industry has put another company in dire financial straits: Last week, Dutch e-bike provider Hartmobile B.V., the parent company of Dutch e-bike brand Qwic, filed for a suspension of payments in its homeland. According to a report published on the Dutch bankruptcy website ...
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News briefsRenewcell initiates strategic review
The Board of Directors of Swedish textile recycler Renewcell has initiated a strategic review regarding its capital structure and the evaluation of potential strategic alternatives to secure additional funding. The announcement comes less than a month after the appointment of Magnus Håkansson as acting CEO. The reason for the strategic ...
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News briefsAku inaugurates new line of production
Italian-based outdoor footwear maker Aku has inaugurated a new line of production at its factory in Montebelluna. The new state-of-the-art machine for outdoor and professional footwear reportedly represents an investment of €1.3 million. The project has been developed in partnership with Stemma, also an Italian company which specializes in the ...
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News briefsScarpa could reportedly sell 25% stake to external investor
Scarpa is believed to have hired the investment bank Finint to find an investor ready to buy about 25 percent of the Italian footwear company, according to the daily Corriere della Sera. The transaction would enable the company to raise funds to accelerate its expansion, which could include acquisitions, it ...
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News briefsRapala plans to issue securities
Finnish fishing tackle manufacturer Rapala VMC is considering issuing up to €25 million worth of securities to strengthen its balance sheet and create financial flexibility while at the same time seeking to reduce expenses and optimize inventory levels. The company pointed out that this move will open up its financing ...
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News briefsTraffic Distribution sets up its own bicycle wholesaler branch in the UK
German bicycle wholesaler and importer Traffic GmbH (Traffic Distribution) is expanding its activities in the UK, setting up its own branch with a warehouse and office in Hastings under the name Traffic UK. Since Brexit, EU and UK companies have tried to continue doing business while avoiding additional costs ...
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News briefsInsolvent KSR Group to continue as a going concern
On Nov. 8, representatives of the creditors of the Austrian two-wheeler wholesaler and importer KSR Group GmbH, which slipped into insolvency on Sept. 6, 2023, met at the Krems District Court. Also on site: The appointed Restructuring Administrator Dr. Christoph Sauer from the law firm Riel Grohmann and the owners ...
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ArticleBleed enters provisional insolvency
In a letter to his loyal customers and in a German-language video (below), Michael Spitzbarth, owner of the sustainable outdoor brand Bleed, explains that his company, which he founded 15 years ago, has had to file for provisional insolvency despite all attempts to avoid this situation. “The sum of many ...
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ArticleNorrøna opens new headquarters in Lysaker
Norrøna, the Norwegian family-owned outdoor apparel and adventure travel company, unveiled its brand new global headquarters in Lysaker, Norway, on Nov. 8. The brand welcomed a host of international guests to the opening of the 3,000-sqm building, which includes Norrøna’s largest and most immersive store to date, a flexible, modern ...
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News briefsSigna: Benko steps down, hands over chairmanship
As the company announced on Nov. 8, 2023, Austrian real estate investor René Benko has stepped down as Chairman of the Advisory Board of Signa Holding and handed over the chairmanship to Arndt Geiwitz. The German restructuring specialist is also taking over the chairmanship of Signa’s shareholders’ committee, as reported ...
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News briefsFoundation Outdoor Group establishes European headquarters in Sweden
Foundation Outdoor Group, the global supplier of fishing rod and tackle crafting components, supplies, equipment, and instruction, has announced the establishment of European headquarters in the strategic port city of Halmstad, Sweden. The company has acquired a new 2,100-sqm facility at Muskotvagen 7, ideally positioned to facilitate international distribution and ...
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ArticleSSU: What has happened so far – and what may still come
In a joint statement, the two insolvency administrators appointed, Dr. Christian Gerloff from the Munich law firm Gerloff-Liebler Rechtsanwälte and Stefan Meyer from Ulm-based Pluta Rechtsanwalts GmbH, point out that the operational business of the two insolvent Signa Sports United (SSU) spin-offs Tennis-Point GmbH and Internetstores GmbH (alias Internetstores Group, ...
