Restructuring of subsidiaries of the CDRL Group

Restructuring of subsidiaries of the CDRL Group

The restructuring will cover three companies belonging to the CDRL Group.

The management boards of the companies: Coccodrillo Concepts, Smart Investment Group and Drussiss have decided to conduct a simplified restructuring procedure. For this purpose, they concluded an agreement with a restructuring advisor and made an announcement in Monitor Sądowy i Gospodarczy. They are currently preparing for talks with their creditors.

While justifying the decision to carry out the restructuring, the representatives of the companies indicated the current situation. For a month now, further restrictions have been in force, resulting in a ban on the operation of clothing stores located in shopping malls. This means that the stores remain closed, so they do not generate income, but must incur the so-called fixed costs. Therefore, the fear of the loss of financial liquidity became justified, which prompted to take appropriate remedial actions.

Source: https://www.wnp.pl/przemysl-odziezowy/restrukturyzacja-w-spolkach-cdrl,461943.html

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