Fashion
FNG wants to avoid bankruptcy in order to restart its Swedish e-commerce company Ellos Group. "If the relaunch does not take place, there is a threat of value destruction," says CEO Paul Lembrechts.
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What will happen to Ellos, FNG's only remaining retail asset? The banks demand 200 million euros. Previous owner Nordic Capital starts arbitration because it now has a pack of worthless FNG shares.
FNG Holding is having serious financial difficulties. If the listed company does not find new resources, bankruptcy seems inevitable.
