Naked Brand Group Limited Completes News Today : Breaking News, Live Updates & Top Stories | Vimarsana

April 01, 2021 12:15 AMPleasure
SYDNEY Australian intimate apparel maker Naked Brand Group Limited has completed multiple strategic capital financings resulting in cash proceeds of $270 million and the elimination of all previous debt servicing obligations.
The publicly-traded company also regained compliance in late February under Nasdaq listing requirements and is in the final stages of receiving the necessary regulatory approval and preparing to seek shareholder approval for the previously announced divestiture of its brick-and-mortar operations.
Naked Brand Group expects to complete the divestiture of its Bendon brick-and-mortar operations in the second calendar quarter of 2021, allowing the company to focus exclusively on the planned rapid acceleration of its e-commerce business. In conjunction with the digital transformation, the company will be able to leverage its brand and platform to build out proprietary technology to meet the needs of consumers. ....

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