Footway Group has had its reconstruction plan approved, entailing a debt settlement where the e-commerce company will pay approximately 70 million Swedish kronor (€6.17m) to its creditors in mid-March. The decision had broad support among creditors, and the reconstruction is expected to conclude in three weeks.
According to the company, the debt settlement resulted in a preliminary gain of SEK 210 million (€18.51m). Simultaneously, the company states that the purpose of the reconstruction has been achieved, establishing a financially sustainable situation to safeguard its operations. The company is expected to exit the reconstruction in mid-February.
