Footway’s creditors consent to continuation of reorganization

2023-08-21T08:55:00+01:00

The creditors of the Swedish Footway Group AB, operator of specialized online stores, which has been in reorganization since July 25, have given the go-ahead for the continuation of the ongoing reorganization until Oct. 25 at the Solna District Court. Despite historic profitability and strong growth, the publicly traded company recently ran into cash flow difficulties. On Aug. 4, Footway announced that it had decided on a targeted new issue of convertible loans totaling SEK 20 million to strengthen liquidity. Court documents state that the company plans another new issue totaling SEK 100 million in December 2023.

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