European Lingerie Group AB publishes unaudited First Quarter 2020 Report and reports continued breach of maintenance test under the bond terms and conditions
European Lingerie Group AB (“ELG” or the “Group“) publishes unaudited First Quarter 2020 Report (1 January – 31 March 2020), including condensed interim consolidated financial statements and reports a financial covenant breach under the terms and conditions for its bond (the “Bond Terms and Conditions”) for the reference period ending on 31 March 2020.“We are all facing a dynamic and unprecedented situation due to the COVID-19 outbreak, which started in Wuhan, China and in the first quarter of 2020 affected practically the whole world. The imposed restrictions by the governments had a