Ellos Group announces completion of refinancing milestone – bondholders become new owners and liquidity financing is underwritten
Press release, Borås, 24 September 2024An agreement has been concluded for the sale of all assets of the bankruptcy estate of Ellos Group AB (the “Parent”), including the shares in Ellos Group Nordic AB (the “Company”), to an entity controlled by the Ellos Group bondholders. The transaction is a major achievement, providing a fresh start and unlocking the SEK 250 million of liquidity financing for the Ellos group. The transaction comes after the negotiations between an ad-hoc group of bondholders (the “AHG”) and the Parent failed to deliver a consensual outcome, leaving the Parent