Motions by Folli Follie Group (FFG) for continued protection from creditors, on the one hand, and a group of investors holding shares or bonds issued by the beleaguered company, on the other, were discussed at an Athens first instance court on Thursday, with rulings expected on Monday.
As reported by “N” this week, the ATHEX-listed retailer and accessory manufacturer appears to have gained the acquiescence of a majority of its creditors for a restructuring plan, following a written commitment by CEO Tzortis Koutsolioutsos to leave the company’s management by the end of the year.
The demand for Koutsolioutsos’ departure from FF was included in a letter of interest accompanying the motion tabled by FF bond holders with the Athens court.
