.MATCHESFASHION warned over some of its banking convenants due next year.
and only seven months after her promotion in December 2020 to the newly created role of global fashion officer. She reported to Elizabeth von der Goltz, who joined the company as chief commercial officer last February from Net-a-porter.As society begins a slow return to some form of normality, Matchesfashion said it has been adjusting inventory levels and the number of brands it retails, actions that are starting to help it return to a full-price model.
Looking ahead, Matchesfashion projects that there might be “a severe but plausible downside case” with an assumed average reduction in sales receipts for the period from June 1, 2021, to Jan. 31, 2022, of 10 percent, and a 9 percent reduction in customer demand for the year ended Jan. 31, 2023. The filings said, “based on the base case and downside case, financial projections management do not currently expect the borrowing group to achieve compliance with the covenant at January 31, 2022.”
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