MQ Holding AB (publ) announces impairment of intangible assets
At its meeting today, the Board of Directors of MQ Holding AB (publ) has resolved to conduct impairment of the book values of intangible assets totaling SEK 500 million.
The non-cash flow impairment is charged to earnings in the second quarter 2018/2019 that will be reported March 15, 2019.
Testing of the value of all of the Group’s intangible assets is regularly conducted. The impairment test at the half-year results resulted in the Board of Directors decision today.
This information is information that MQ Holding AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication, through the agency of the contact persons set below, on March 6, 2019 at 13:00 CET.
Ingvar Larsson, President and CEO: +46 31 388 80 70
Ola Wahlström, CFO: +46 31 388 80 80
Christine Abrahamsson, IR Manager: +46 31 388 80 23
MQ Holding AB owns and operates fashion stores under two business areas: MQ and Joy. MQ is Sweden’s largest retailer of fashion brands today. Through a combination of proprietary and external brands, MQ offers high-fashion menswear and womenswear in attractive stores. Joy targets fashion-conscious women at midlife who desire excellent quality, fit and comfort. The two business areas currently comprise a total of 170 stores as well as online shopping. The MQ Holding share has been listed on the NASDAQ OMX in Stockholm since 18 June 2010. For more information, see www.mq.se