Temporary protection from creditors order for FF Group lifted by Athens court

Monday, 22 October 2018 11:37
UPD:11:39
REUTERS/COSTAS BALTAS

A first instance court in Athens on Monday lifted a temporary protection from creditors order for Folli Follie Group, a development expected to increase pressure on the beleaguered retailer and jewelry accessory maker.
A handful audits and investigations are underway over FF's financial data, extending even a decade back. Trading of the company's shares on the Athens Stock Exchange (ATHEX) has also been suspended since the summer.

A hearing on the primary motion for bankruptcy protection will be discussed by the same court in November.

In a related development, a subsidiary of FF USA, Links of London (LoL), filed a request for protection under article VII of the US federal bankruptcy code, in the Delaware district.

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