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Naked Brand Group to restructure business, focus on e-com

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Naked Brand Group to restructure business, focus on e-com - Fibre2Fashion

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Naked Brand Group Limited (NAKD)

Naked will seek to leverage its brand, platform and build out proprietary technology to meet the needs of consumers in today's digital world. In conjunction with the strategic restructuring, Naked has signed a non-binding and non-exclusive term sheet to divest itself of its Bendon subsidiary, allowing Naked to focus on its profitable e-commerce business. The divestment of the Bendon subsidiary would be accomplished through its sale to a group composed of existing management of Naked, including Mr. Davis-Rice continued, "In the current environment, our capital-intensive brick-and-mortar legacy business has proven challenging to sustain. This divesture will allow us to remove all group debt and transition to a pure-play, technology-rich e-commerce platform focused on intimate apparel with our existing digital business, FOH Online.
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Nasdaq has determined that the Company is eligible for an additional calendar day period or until May 24, , to regain compliance. The company designs, manufactures and markets a portfolio of 8 company-owned and licensed brands, catering to a broad cross-section of consumers and market segments. For more information please visit www. Private Securities Litigation Reform Act of
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