Swedemount Sportswear & Fashion AB has successfully had a reconstruction plan approved. The majority of Swedemount’s suppliers and groups of creditors voted to confirm the reconstruction plan.
Johan Andgren, the Swedish company’s CEO, expresses gratitude to nearly all creditors who have supported them throughout the reconstruction plan. Andgren attributes the weak financial situation to the closure of border stores with Norway during the pandemic.
“We have been able to repair and reconstruct, providing us with a breathing space to implement significant improvements and savings that enable a sustainable business in the long run,” said Andgren.
