All Corporate articles – Page 6
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News briefsRenewcell ends 2023 with slight upward trend
After a rather difficult year overall, Swedish textile recycling company Renewcell reported better, albeit not outstanding, sales for last month (Dec. 1-31, 2023), although it continues to struggle with the lack of product demand. The company said it produced about 818 tons of prime-quality dissolving pulp. About 1,000 metric tons ...
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News briefsAmer files registration statement with SEC for projected IPO
Finnish Amer Sports, Inc., which includes the Arc’teryx, Salomon, Wilson, Peak Performance and Atomic brands, among others, announced on Jan. 4, 2024, that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. The ...
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ArticleCreditors approve Advanced Sports’ restructuring plan
After the German sales company Advanced Sports GmbH (aka Advanced Sports Europe) slipped into self-administered insolvency on April 1, 2023, due to the challenging market and consumer sentiment, it was reported in mid-September that all parties involved in the proceedings (while business operations continued) were confident that the restructuring process ...
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News briefsAluula announces short-term loan
Canadian materials technology company Aluula Composites Inc. has announced that its wholly owned subsidiary Aluula Composites Canada Inc. has obtained a $1,000,000 term loan from a non-contracting party. The loan bears interest at 12 percent per annum and is due and payable on July 1, 2024. The company intends to ...
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News briefsUSWE enters liquidity guarantee agreement with Pareto Securities
USWE Sports AB, the Swedish parent company of USWE, Void Cycling and Giant Loop, has entered into a liquidity guarantee agreement with Oslo-based Pareto Securities AB. Pareto Securities will assume the function of liquidity provider on Jan. 2, 2024. The obligation takes place within the framework of Nasdaq First North ...
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News briefsInfinited Fiber starts cooperation negotiations with employees
Finland-based textile technology specialist Infinited Fiber said it started cooperation negotiations at the end of December concerning the personnel of the parent company Infinited Fiber Company Oy and its subsidiary Infinited Fiber Kemi Oy. The aim of the talks is to find solutions to adapt the company’s cost structure and ...
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News briefsBleed enters insolvency
Despite intensive efforts, Bleed has not been able to find a solution for its continuation to date, the company announced in a newsletter issued shortly after Christmas. As a result, the sustainable outdoor brand from southern Germany will be insolvent from January 2024. Since the team around owner Michael Spitzbarth ...
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ArticleSuccessful reorganization and realignment of Pierer subsidiary Syntace
Syntace GmbH, the umbrella company for the Syntace brand, a manufacturer of high-quality bicycle components, and Liteville, a manufacturer of high-end bikes, primarily in the mountain bike segment, has successfully completed a comprehensive restructuring since Pierer Industrie AG (PIAG) took over the majority rights in 2022. The ...
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News briefsRenewcell secures €9m capital injection for short-term liquidity
Swedish textile-to-textile recycling company Renewcell has entered into two short-term loans with its main shareholders, H&M Fashion AB and Girincubator AB, and – through waivers and amendments to the company’s existing financial agreements – with its existing lenders BNP Paribas, European Investment Bank (EIB), Nordea Bank Abp and AB Svensk ...
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News briefsCoDi receives $75.2m equity investment
Compass Diversified (CoDi), the Connecticut-based owner PrimaLoft, Boa Technology, 5.11 and Velocity Outdoor, completed a $75.2 million private placement offering of approximately 3.6 million of its common shares to an Allspring Global Investments mutual fund for $21.18 per share. “We are thrilled to receive this substantial investment from Allspring,” commented ...
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News briefsHövding files for bankruptcy
The Board of Directors of Hövding Sverige AB has decided to file for bankruptcy. The bankruptcy application has been submitted to Malmö District Court on December 21, 2023. As reported before, the reason for the bankruptcy application is that the Swedish Consumer Protection Agency on Nov. 1, 2023, imposed a ...
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ArticleKSR Group’s future is secured
Following the decision of the Krims District Court to lift the external administrative proceedings at the insolvent Austrian two-wheeler giant KSR Group GmbH, the path for a fresh start is now clear. The creditors’ meeting had previously approved the restructuring measures by a large majority. On Dec. 20, the restructuring ...
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ArticleEquip denies rumors about a possible sale of Rab
An announcement in late November that Matt Gowar was stepping down as CEO of Equip Outdoor Technologies UK Ltd has apparently caused some confusion in the media world. At the end of last week, rumors emerged in renowned media that the Rab brand was to be sold. Equip responded already ...
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News briefsHövding’s situation appears to worsen
After the Swedish Consumer Protection Agency imposed a sales ban for the Hövding 3 (OIC reported) via Hövding’s own channels, the agency followed up last Friday: The Hövding 3 is now being recalled throughout Sweden, and a general sales ban has been imposed in the country. Hövding has announced that ...
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ArticleAutomotive supplier SEG relies on BH for its e-bike motor debut
With SEG Automotive Germany GmbH, another leading automotive supplier is turning its attention to the bicycle segment. The first OEM customer of its e-bike motor, designed, developed and produced in Europe, is the Spanish bicycle manufacturer BH Bikes Europe S.L. The first BH e-bikes with SEG mid-mounted motors will be ...
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News briefsRapala implementing new three-year strategic plan
Finnish fishing tackle supplier Rapala VMC reported that it will be implementing a new strategy over the next three years. The effort will be undertaken by the global fishing tackle company’s new global management team, focusing on improving the group’s profitability and working capital management. The changes on Rapala’s ...
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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 ...
