Folli Follie’s cash reserves are reportedly running out in the face of a lack of extended credit, while developments on the legal continue to plague the embattled accessory maker and retailer.
Βy S. Emmanuil
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Folli Follie’s cash reserves are reportedly running out in the face of a lack of extended credit, while developments on the legal continue to plague the embattled accessory maker and retailer.
A latest court decision orders the seizure of 1.8 million euros in reserves.
According to recent information, the Athens-based company has sold-off assets, including a building in Hong Kong, and cashed in on dividends from its stake in the Swiss multinational Dufry, to the tune of 10 million euros.
FF is also selling off shops and e-shops, with cash reserves sufficient for another two months, according to company executives.