$56 million in operating losses later, Bendon Lingerie is given a lifeline
By Imogen Bailey | 29 April 2021
Bendon Lingerie has been given a lifeline, after parent company Naked Brands Group divested from the brand.
The New-Zealand born lingerie label has been sold to its current chairman Justin Davis-Rice and CEO Anna Johnson for $1 New Zealand dollar.
The sale, which was approved by shareholders on 23 April, follows exhaustive efforts conducted in 2019 and 2020 to find an external buyer for both the Bendon business as a whole and its brands individually – both of which proved unsuccessful.
Bendon’s brands include Fayreform, Me by Bendon, Pleasure State, Lovable, Bendon, Hickory and Davenport.
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Naked Brand Group Limited: Naked Brand Group Announces Preliminary Results of Extraordinary General Meeting
Shareholders Vote for Approval of Proposed Transaction to Divest Bendon Brick-and-Mortar Operations
Resolution Approval Now Positions Naked to Execute on Digital Transformation Strategy to Become an E-commerce Leader in the Intimate Apparel Market with $270 Million of Cash and No Debt
SYDNEY, AUSTRALIA / ACCESSWIRE / April 23, 2021 / Naked Brand Group Limited (
NASDAQ:NAKD) ( Naked or the Company ), a global leader in intimate apparel, today announced that, based on the preliminary vote tallies from its Extraordinary General Meeting of its shareholders held on Friday, April 23, 2021 at 10:00 am (Sydney time), Naked s shareholders voted to approve the Company s proposed divestiture of its Bendon brick-and-mortar operations. The final tallies will be disclosed promptly after they become available. With shareholder support, the Company expects to sign the definitive agreem
Naked Brand Group Announces Preliminary Results of Extraordinary General Meeting saltlakecitysun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saltlakecitysun.com Daily Mail and Mail on Sunday newspapers.