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District Court of Helsinki has ruled a temporary prohibition of collection for Stockmann plc and appointed Attorney Jyrki Tähtinen as interim administrator

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STOCKMANN plc, Other information disclosed according to the rules of the Exchange 7.4.2020 at 9.00 EET

Stockmann plc’s file for corporate restructuring was handed in to the District Court of Helsinki on 6 April 2020. The District Court of Helsinki has, on 6 April 2020, ruled a temporary prohibition of collection and prohibition of enforcement for Stockmann plc, and appointed Attorney Jyrki Tähtinen as interim administrator.

Over half of Stockmann plc’s creditors have indicated a positive stance to the filing for corporate restructuring.

The company’s Board of Directors will convene a general meeting, at a date to be announced later, to decide on the possible extension of the restructuring proceedings.

Stockmann will publish its Interim report for January–March on 30 April 2020. Stockmann will provide a new guidance when the visibility in the company’s markets is clearer.

Additional information:
Lauri Ratia, Chairman of the Board of Directors, tel. +358 50 2922
Jari Latvanen, CEO, tel. +358 9 121 5606

www.stockmanngroup.com

STOCKMANN plc

Jari Latvanen
CEO

Distribution:
Nasdaq Helsinki
Principal media

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