Locked content Gino Rossi didn’t settle PLN 45.9 mln liabilities to CCC

Gino Rossi failed to meet the January 15 deadline to settle partial repayment of receivables due to the footwear group CCC in the amount of PLN 45.9 million. In December PKO BP bank signed an agreement under which CCC took over liabilities of Gino Rossi for PLN 68.5 million. Gino Rossi asked to post...

Locked content Gino Rossi revenue drop by 34.9% in December

Fashion retailer Gino Rossi recorded revenue of PLN 12.1 million in December, down 34.9 percent y/y, the company said. The share of B2B sales in December was 7.7 percent, a drop of 30.3 percentage points versus a year ago. In contrary, e-commerce sales rose in December by 33.5 percent y/y. In the en...

Locked content CCC wants to buy Gino Rossi

WSE-listed shoe retailer CCC wants to buy a 100 percent stake in other listed peer Gino Rossi for PLN 0.55 per share in a tender offer. This puts the company’s value at PLN 27.7 million. CCC has previously secured Rossi’s majority shareholder obligation to sell their 30 percent stake. The company pl...

Locked content Gino Rossi offers PKO BP to buy Simple

Gino Rossi submitted an offer for the sale of 100 percent stake in Simple Creative Products to the bank PKO BP (Simple lender) for PLN 0.5 million. The deadline for accepting the offer by PKO BP is from December 14 to March 31, 2019. Earlier, Gino Rossi negotiated the sale of Simple with Monnari Tra...

Locked content Monnari Trade ends talks to buy Simple

Monnari Trade terminated negotiations regarding the acquisition of Simple Creative Products from Gino Rossi, the company said. The talks were ended due to the lack of agreement with the bank PKO BP SA (Simple lender), Monnari Trade specified. At the beginning of October, Monnari Trade submitted a bi...

Locked content Gino Rossi revenue down 34% in September

Fashion retailer Gino Rossi recorded revenue of PLN 10.9 million in September, 34 percent less than a year ago, the company said. The share of B2B sales was 25.4 percent, down by 9.8 percentage points y/y. E-commerce sales declined by 20.5 percent versus September 2017. In January-September Gino Ros...

Locked content Gino Rossi with H1 net loss of PLN 51 mln

Fashion retailer Gino Rossi reported H1 net loss of PLN 51 million compared to profit of PLN 2.3 million a year ago. Revenue declined by 9 percent y/y to PLN 87.1 million. EBITDA loss amounted to PLN 9.7 million. Unsatisfactory sales results are primarily the result of the insufficient level of the ...

Locked content Gino Rossi: enforcement proceedings against Simple CP discontinued

The enforcement proceedings against Simple Creative Products (Simple CP) were discontinued, Gino Rossi said. Under the proceedings, the bank account of Simple CP was seized for PLN 6 million. “The cancellation of the enforcement proceedings took place at the request of the creditor due to the repaym...

Locked content Gino Rossi signs LoI with OTCF on Simple CP sale

Gino Rossi signed a Letter of Intent (LoI) with OTCF, the owner of the 4F brand, regarding the sale of 100 percent stake in Simple Creative Products (Simple CP), Gino Rossi said. OTCF will pay a deposit of PLN 1 million for the acquisition of shares. The final text of the transaction document should...

Locked content Gino Rossi signs licensing deal with CCC

WSE-listed footwear retailer Gino Rossi signed a licensing deal with rival CCC. The contract is for manufacturing and design and to use Gino Rossi trademark in selected countries. Gino Rossi estimates that it will bring PLN 36-40 million in revenue for 2019-2020 period, including PLN 15-18 million i...