New York, N.Y., October 18 2018 — Folli - Follie Commercial Manufacturing and Technical Société Anonyme (hereinafter “FF Group”) announces today that its U.S. subsidiary, Links of London, Inc. has filed a voluntary petition for relief under chapter 7 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Links of London’s non-U.S. global operations continue to trade as normal and are unaffected by the U.S. bankruptcy petition.
Links of London, Inc. filed for chapter 7 protection as a result of substantial and sustained annual losses. FF Group supports this decision in the interests of the wider business towards growth and as part of an ongoing restructuring of the FF Group.
Links of London, Inc. is committed to the welfare of its valued former employees and has paid all their outstanding wages. The FF Group will continue to serve the brands’ customers through the e-commerce websites www.linksoflondon.com and www.follifollie.com.
While Links of London, Inc. is subject to the bankruptcy proceedings, the Canadian subsidiary will continue business as usual.
FF Group would like to emphasize its appreciation for the hard work and loyalty of its U.S. employees, partners and suppliers, and sincerely regrets the effect of the closure. In total, 6 standalone stores and 9 concessions will close.
Links of London, Inc. will cooperate with the bankruptcy Trustee throughout this process in order to ensure it is conducted in an orderly fashion. Links of London, Inc. is being advised by Joseph Barry of Young Conaway Stargatt & Taylor, LLP.
More information for former employees, suppliers and partners about the Links of London, Inc. chapter 7 filing is available through contact@ffgroup.com.
This announcement is released in compliance with the relevant provisions of the Market Abuse Regulation (EU) 596/2014 concerning the issuer’s obligation to disclose inside information.
