News: PGR PAS Group Enters Voluntary Administration, page-7

Deal done on Jets Swimwear...

The offer excludes debtors, leases and ongoing store operations and the purchaser will offer seven Jets Swimwear employees ongoing roles, including taking on their employee entitlements. According to the report, Jets Swimwear has 40 employees.The parties were hammering out the details of the deal on Friday evening, with a formal announcement imminent.

According to the PwC report, PAS Group owes 57.6 million Australian dollars, or $42 million at current exchange, of which 44.2 million Australian dollars, or $32 million, is unsecured.

According to the report, there were 44 expressions of interest in the group, with administrators receiving non-binding indicative offers from 12 parties. Credible indicative offers have been received from two parties, which are currently being assessed.

https://headtopics.com/us/exclusive-l-catterton-said-set-to-acquire-australia-s-jets-swimwear-14847525