All Rizzo Group articles
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News briefs
Rizzo’s debt restructuring to be discussed Jan. 24
The Stockholm District Court will hold hearings on Jan. 24 to discuss a debt restructuring proposal for Rizzo and its subsidiary Rizzo International. The court also approved to Rizzo’s request to extend its restructuring period for an additional three months to March 21. The Swedish retailer’s composition offer involves the ...
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News briefs
Rizzo makes offer to creditors
Rizzo Group has made an offer to its creditors to avoid bankruptcy. The Swedish retailer’s composition offer, which also applies for its subsidiary Rizzo International, involves the entire payment of unsecured debt up to SEK 2,000 (€195-$220) and 25 percent of any excess amount. The company has been in corporate ...
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Article
Rizzo obtains an expensive SEK 30m loan
Rizzo Group, the troubled Swedish retailer of bags, footwear and accessories, reached an agreement to obtain a SEK 30 million (€3.0m-$3.4m) loan from Zenith Management AB. Rizzo has the right to repay of the loan in shares. The loan bears an annual interest rate of 15 percent and has to ...
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Article
Rizzo applies for extension of restructuring period
Rizzo Group has applied for a three-month extension to its corporate reorganization. The restructuring began on March 23 following a ruling by a Stockholm-based court and had already been extended to Sept. 23. The company has started to work on a composition with creditors. The valuation of inventories and intra-group ...
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News briefs
Rizzo starts trading second-hand bags
Rizzo Group, a footwear, bags and accessories retailer, has launched a service under which people can trade in second-hand bags and suitcases at its Rizzo stores in Sweden and Morris shops in Norway. The item is valued in store and the customer receives a voucher, based on the assessed value ...
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News briefs
Rizzo introduces a consignment model with its suppliers
Rizzo Group has entered a partnership with the fintech company Future of Retail (FoR) which enables it to propose a consignment model to its main suppliers. The deal also allows the troubled Swedish retailer to be less exposed to liquidity constraints while increasing its assortment. Under the arrangement, preferred suppliers ...
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Article
Rizzo Group to undergo another restructuring
Rizzo Group , formerly known as Venue Retail Group , has applied for a new corporate reorganization with a Stockholm-based court. The decision follows a “sharp drop in sales” due to harsher restriction measures following a second wave of the Covid-19 pandemic from October 2020. The request comes ...