top shadow
BODY



































Trade Readers:
I am a STORE BUYER or OWNER
I am a Manufacturer’s Rep
I am a Distributor
I am a Textile Supplier
I am a Banker or Factor
I am an OEM Producer
I want to receive more info from this company about its products
I want to receive a catalog from this company
I want to learn more about carrying this brand in my store; have them contact me
I would like to become a manufacturer’s representative for this company; have them contact me
I want to comment on this brand
I am a store owner/buyer who would recommend this brand to other stores

Consumer Readers:
I am a CONSUMER
I am a consumer who wants to purchase garments from this company; have someone contact me
I am a consumer who wants to know how/where to purchase this product

I am a consumer who would like a consumer catalog, if you provide one
I am a consumer who would recommend this brand












current news

Bendon Reveals Huge Losses As It Merges


(Filed Under Financial and General Interest News). As Naked Brand Group and Bendon Limited announced the consummation of their merger, Bendon itself revealed huge losses in its past two fiscal years, about $25.7 million and $27.4 million respectively, at current exchange rates.

Naked Brand Group Limited (NBGL), the resulting entity of the combination, also announced a private placement sale of $17 million of its ordinary shares, which occurred as the merger was completed. It added that each of these new investors “received a five-year warrant to purchase the same number of ordinary shares of [NBGL] for which such investor subscribed. Accordingly, [NBGL] issued warrants to purchase an aggregate of 4,534,137 ordinary shares to the investors. The warrants have an exercise price of $3.75 per share and have certain “cashless” exercise features.”

The CEO of the new company is Justin Davis-Rice, and Carole Hochman, formerly Naked’s CEO, is the executive chairman. The firm began trading on the Nasdaq Capital Market, under the same symbol as formerly used for the Naked common stock, “NAKD,” on June 20th.

Declared Davis-Rice, “We believe this merger will enable the combined company to strengthen its global industry leadership and continue to drive growth over the long-term. Through the use of the U.S. capital markets, we anticipate having financial flexibility to expand distribution networks and further develop our businesses as well as acquire complementary brands. We are excited to further revolutionize the lingerie industry through our unwavering commitment to best in category innovation in design and technology within product and brand development.”

As details of the merger released, Bendon made public additional information on its financial condition. Bendon revealed a loss of $37,445,000 New Zealand dollars (NZD) (about $25.7 million) on sales of $131,388,000 NZD (about $90.0 million) in the twelve months ended January 31, 2018 compared to a loss of $39,968,000 NZD (about $27.4 million) on sales of 152,144,000 NZD (about $104.3 million) the year before.

Naked itself has sustained years of losses and as of January 31 of this year had an accumulated deficit of $63.0 million. — NM


more Financial and General Interest News >>

Published 06-26-2018 by Nick Monjo

Related Articles

Bendon Reveals Huge Losses As It Merges


Comment on this article, brand or product

Disclaimer: The views expressed in comments published on bodymagazine.us are those of the comment writers alone. They do not represent the views or opinions of Bodymagazine or its staff.















NOTE: Your Email will not be displayed.

Follow BODY on:
twitter FaceBook RSS
Share this article on:
Digg Reddit Stumble

Contact Information: (718)676-4444
Copyright © 2017 Fashion Market Magazine Group, Inc. All rights reserved.
All photos Copyright © 2000-2018 Nick Monjo & Fashion Market Magazine Group. All rights reserved.
Please email any website related issues to bodymagazinefmmg@gmail.com
bottom shadow
*