Information from AGM of RNB RETAIL AND BRANDS On Tuesday, December 22, 2020, RNB RETAIL AND BRANDS held its Annual General Meeting (AGM) under the chairmanship of the Chairman of the Board Per Thunell. With the support of Sections 20 and 22 of the Act (2020: 198) on temporary exemptions to facilitate the conduct of…
Focus on the future Polarn O. Pyret’s sales were positive and operating income increased. RNB’s focus on e-commerce paid off – e-commerce sales as a proportion of total rolling 12-month sales were up in the quarter, totaling 19 percent. Polarn O. Pyret is at the top of the league with…
RNB RETAIL AND BRANDS will announce the first quarter results (September 2020 – November 2020) on Tuesday 22 December. RNB RETAIL AND BRANDS invites investors, analysts, and media to a presentation of the quarterly report, where CEO Kristian Lustin and Interim Group Business Controller Richard Roa comment on the report. The presentation will be held…
This English version of the Annual Report 2019/2020 is available as a downloadable PDF
The shareholders of RNB RETAIL AND BRANDS AB (publ) are hereby summoned to the Annual General Meeting on Tuesday 22 December 2020. With the support of Sections 20 and 22 of the Act (2020: 198) on temporary exemptions to facilitate the conduct of company general and association general meetings, the Company's Board has decided that…
The approved composition proposals from RNB Retail and Brands AB (publ) subsidiaries Brothers AB, Departments & Stores Europe AB and Polarn O. Pyret AB have gained legal force and the corporate reorganizations are completed. On October 16, the Stockholm District Court upheld the submitted composition proposals from Brothers AB, Departments & Stores Europe AB and…
On 6 October 2020 RNB Retail and Brands AB (publ) (the "Issuer") instructed Nordic Trustee & Agency AB (publ) (the "Agent"), agent for the Issuer's up to SEK 600,000,000 senior secured floating rate notes with ISIN SE0010625830 (the "Notes"), to instigate a written procedure (the "Written Procedure") to resolve on certain amendments to the terms…
Corporate restructuring ends The coronavirus crisis continued to affect RNB in the fourth quarter, although to a lesser extent than in the third quarter. The corporate restructuring has proceeded according to plan, including operational changes, and the companies are now in good shape as the process comes to an end…
During a creditors’ meeting today, Stockholm District Court accepted the settlement proposal put forward by the subsidiaries of RNB Retail and Brands AB (publ) – Brothers AB, Departments & Stores Europe AB and Polarn O. Pyret AB. The creditors also accepted the proposal. The decision by Stockholm District Court entails that the corporate reorganization, that…
The corporate reorganisations in RNB Retail and Brands AB (publ) subsidiaries Departments & Stores Europe AB, Polarn O. Pyret AB and Brothers AB are allowed to continue until 23 December 2020. Stockholm District Court has today decided that the corporate reorganisations may continue for another three months, i.e. until 23 December 2020. Stockholm District Court…
On 17 September 2020 RNB RETAIL AND BRANDS AB (publ) (the "Issuer") instructed Nordic Trustee & Agency AB (publ) (the "Agent"), agent for the Issuer's SEK 600,000,000 senior secured floating rate notes with ISIN SE0010625830 (the "Notes"), to instigate a written procedure (the "Written Procedure") to resolve on the noteholders' approval of the composition proposal…
RNB RETAIL AND BRANDS AB (publ) (the "Company") have earlier, through a press release on 23 March 2020, announced that its subsidiaries, Departments & Stores Europe AB Reg. No. 556541-8778, Polarn O. Pyret Aktiebolag Reg. No. 556235-7383 and Brothers AB, Reg. No. 556513-6826 applied for company reconstruction in Stockholm District Court (the "Company Reconstruction"). The…
RNB RETAIL AND BRANDS will announce the fourth quarter results (September 2019 – August 2020) on Thursday 22 October. RNB RETAIL AND BRANDS invites investors, analysts, and media to a presentation of the quarterly report, where CEO Kristian Lustin and Interim Group Business Controller Richard Roa comment on the report. The presentation will be held…
RNB Retail and Brands AB (publ) subsidiaries Brothers AB, Departments & Stores Europe AB and Polarn O. Pyret AB have today submitted requests for composition negotiations and extension of the corporate reorganization to the Stockholm District Court. The composition offers were presented on 1 July and entail for all companies that the non-priority creditors receive…
RNB RETAIL AND BRANDS AB (publ) (the "Company") has earlier, through a pressrelease on 1 July 2020, announced that its subsidiaries, Departments & Stores Europe AB Reg. No. 556541-8778, Polarn O. Pyret Aktiebolag Reg. No. 556235-7383 and Brothers AB, Reg. No. 556513-6826 (the "Subsidiaries") at Stockholm District Court have presented a composition proposal to the…
On 7 August 2020 RNB RETAIL AND BRANDS AB (publ) (the "Issuer") instructed Nordic Trustee & Agency AB (publ) (the "Agent"), agent for the Issuer's SEK 600,000,000 senior secured floating rate notes with ISIN SE0010625830 (the "Notes"), to instigate a written procedure (the "Written Procedure") to resolve on certain amendments to the terms and conditions…
RNB Retail and Brands' Brothers business area changes CEO. Lina Söderqvist, current CEO of Brothers, has chosen to leave Brothers and will be replaced by Brothers' current Deputy CEO/Assortment Director Christopher Englinde. Christopher will take office on September 1, 2020. “Lina Söderqvist has in an excellent way led the work of developing an updated customer-focused…
RNB RETAIL AND BRANDS AB (publ) (the "Company") have earlier, through a pressrelease on 23 March 2020, announced that its subsidiaries, Departments & Stores Europe AB Reg. No. 556541-8778, Polarn O. Pyret Aktiebolag Reg. No. 556235-7383 and Brothers AB, Reg. No. 556513-6826 applied for company reconstruction in Stockholm District Court (the "Company Reconstruction"). The Company…
The Stockholm District Court has decided to grant extend of RNB Retail and Brands AB (publ) subsidiaries Departments & Stores Europe AB, Polarn O. Pyret AB and Brothers AB corporate reorganisations until September 23, 2020. “We presented the proposed arrangements with creditors on 1 July and the aim is to conclude the corporate reorganisations during…
A quarter with significant changes The quarter was characterized by significantly lower store sales, while e-commerce sales grew. The sector’s shift towards online sales accelerated in the quarter. PO.P’s e-commerce sales increased by nearly 200 percent, and the fully digital Man of a kind by close to 100 percent. The…
RNB Retail and Brands AB (publ) subsidiaries Brothers AB, Departments & Stores Europe AB och Polarn O. Pyret AB have today presented to Stockholm's district court the proposals that the companies will submit to the creditors. The settlement proposals mean settlement of SEK 10,000 and 25 per cent on excess amounts for the subsidiaries' non-priority…
RNB Retail and Brands AB (publ) subsidiaries have today to the Stockholm District Court applied to extend their ongoing company reorganisations (Sw. företagsrekonstruktioner). In the same applications the Companies petitioned a deferral to, and including, July 1, 2020 to complete the applications. By that date at the latest, the companies will present settlement proposals to…
RNB RETAIL AND BRANDS will announce the third quarter results (September 2019 – May 2020) on Wednesday 8 July. The reporting date has been moved because of the work on the subsidiaries' corporate restructuring. RNB RETAIL AND BRANDS invites investors, analysts, and media to a presentation of the quarterly report, where CEO Kristian Lustin and…
The Stockholm District Court has today decided to grant extend of RNB Retail and Brands AB (publ) subsidiaries Departments & Stores Europe AB, Polarn O. Pyret AB and Brothers AB corporate reorganisations until June 23, 2020. “We are humble before the decisions to continue the corporate reorganisations. The decisions provide us with opportunity to continue…
Currently in corporate reorganization, RNB Retail and Brands AB’s subsidiaries Department & Stores Europe AB, Polarn O. Pyret AB and Brothers AB (“the Companies”) have all been severely impacted by the ongoing COVID-19 pandemic. As a result, retail sales halved during the months of March and April, while e-commerce increased. During the initial phase of…
The Stockholm District Court has today granted the applications for company reorganization for the companies Departments & Stores Europe AB, Polarn O. Pyret AB and Brothers AB. Today RNB announced that the Board of Directors of the Company had applied for company reorganization for the subsidiaries Departments & Stores Europe AB (”Departments & Stores),…
RNB Retail and Brands AB (publ) today announces that the Board of Directors of the Company has applied for company reorganization (Sw. företagsrekonstruktion) for the subsidiaries Departments & Stores Europe AB ("Departments & Stores"), Polarn O. Pyret AB ("Polarn O. Pyret") and Brothers AB ( "Brothers") (together "the Companies") at the Stockholm District Court. During…
SECOND QUARTER, DECEMBER 1, 2019 – FEBRUARY 29, 2020 IN SUMMARY Net sales decreased to SEK 561 M (604). Comparable sales for the Group on all national markets decreased by -11.6 percent. Sales for comparable units in Sweden decreased by -9.4 percent, compared to the market upturn of 0.1 percent.…
RNB RETAIL AND BRANDS will announce its second quarter results (September 2019 – February 2020) on Monday 23 March. RNB RETAIL AND BRANDS invites investors, analysts and media to a presentation of the quarterly report, where CEO Kristian Lustin and Interim Group Business Controller Richard Roa comment on the report. The presentation will be…
RNB Retail and Brand's business area Polarn O. Pyret has appointed Johan Munck as acting CEO from February 7, 2020. Johan thus replaces Nanna Hedlund. The change is being made as the company needs a different CEO profile to address the financial challenges facing the company. Johan has a solid and broad experience from some…
RNB Retail and Brands AB’s business area Departments & Stores has appointed Lars Jungerth as new CEO from January 14, 2020. Lars thus replaces Yvonne Magnusson. The change is made as the requirements have changed as the separation work regarding the operations within the RNB Group is now completed.