More corporate news – Page 2
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News briefsConnexa raises $16.5 million, regains compliance with Nasdaq minimum equity rule
Nasdaq has confirmed that Connexa Sports Technologies, the parent company of Slinger Bag, has again met Nasdaq’s minimum equity requirements with three non-US companies investing $16.5 million in the company, whereby Connexa sold 2,330,200 shares and warrants for an additional 25,169,800 shares. The investments came from Hong Kong-based Andy and ...
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News briefsUK ski clothing brand Perfect Moment files for US IPO
London-based skiwear brand Perfect Moment Ltd plans to list on the NYSE American (formerly AMEX) under the symbol “PMNT“ and raise $8 million by offering 1.2 million shares in a price range of $6 to $7. The company had previously requested an offering of 2.5 million shares in the same ...
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News briefsSigna Holding withdrawn from self-administration
By order of the Commercial Court of Vienna dated Jan. 25, 2024, Signa Holding GmbH was withdrawn from self-administration upon its own request. The proceedings will now be continued as restructuring proceedings without self-administration. This was announced by the Viennese lawyer, Dr. Christof Stapf, who was appointed as administrator. The ...
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News briefsEbay slashes 1,000 jobs amid economic struggles
In a recent internal memo made public, eBay’s CEO, Jamie Iannone, announced plans to reduce the company’s workforce by 9 percent, amounting to approximately 1,000 jobs. The memo cited external challenges, including a “challenging macroeconomic environment,” as reasons for the downsizing, noting that the company’s expenses have outpaced its business ...
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News briefsSigna’s KaDeWe Group files for insolvency
Following various former Signa subsidiaries, the long-standing department store KaDeWe in Berlin has also filed for insolvency. The KaDeWe Group also includes the luxury department stores Alsterhaus in Hamburg and Oberpollinger in Munich, which would, therefore, also be affected by the proceedings. The company announced that the stores would, however, ...
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ArticleSeveral potential buyers for SportScheck
The Munich-based law firm Müller-Heydenreich Bierbach & Kollege, specializing in restructuring and insolvency administration, announced that the search for investors for the insolvent German sporting goods retailer SportScheck is progressing successfully. According to the provisional insolvency administrator Axel Bierbach, numerous interested parties had submitted offers by the end of the ...
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News briefsSwedemount successfully confirms reconstruction plan approval
Swedemount Sportswear & Fashion AB has successfully had a reconstruction plan approved. The majority of Swedemount’s suppliers and groups of creditors voted to confirm the reconstruction plan. Johan Andgren, the Swedish company’s CEO, expresses gratitude to nearly all creditors who have supported them throughout the reconstruction plan. Andgren attributes the ...
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ArticleSport 2000 GmbH with stable development in 2023
The consolidated gross external sales of the Sport 2000 5-country network amounted to €2.95 billion in Germany in 2023. The purchasing network comprising Germany, Switzerland, Belgium, the Netherlands and Luxembourg amounted to €4.03 billion. Due to restrained order behavior and the insolvency of some sports retailers, the purchasing volume fell ...
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News briefsNew board and chairman at pickleball rating company
Dynamic Universal Pickleball Rating (DUPR), the company behind the eponymous rating system, has new ownership and a new board of directors, thanks to $8 million in funding from new investors. Chief among these is David Kass, real estate developer and owner of the Columbus Pickleball Club and now owner and ...
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News briefsFootway group secures debt settlement
Footway Group has had its reconstruction plan approved, entailing a debt settlement where the e-commerce company will pay approximately 70 million Swedish kronor (€6.17m) to its creditors in mid-March. The decision had broad support among creditors, and the reconstruction is expected to conclude in three weeks. According to the company, ...
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ArticleFischer celebrates 100 years
Source: © Fischer Sports GmbH CEO Franz Föttinger (2024) Source: Archive Fischer Josef Fischer in 1959 Fischer is celebrating its 100th anniversary this year. The company was founded in 1924 by Joseph Fischer in Upper Austria, where the headquarters are still located today. From ...
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News briefsFanatics to lay off 218 workers in the US
Sports merchandising giant Fanatics sent a Worker Adjustment and Retraining Notification (WARN) notice to the State of Florida and the City of Jacksonville on Jan. 11, saying it will shut down its fulfillment center at 5245 Commonwealth Avenue in Jacksonville, Florida. The move will affect 218 employees. The layoffs will ...
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News briefsEastside golf secures $3.4M funding
The trend of micro-brands making a mark in the golf industry continues, with Eastside Golf being the latest player to secure funding. The lifestyle golf brand announced on Thursday that it successfully closed a seed round led by EP Golf Ventures, a partnership between PGA of America and venture capital ...
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ArticleCounterfeit products cost EU companies €16 billion in sales each year
According to a new study by the European Union Intellectual Property Office (EUIPO), counterfeit goods cost EU industries an estimated €16 billion in sales and nearly 200,000 jobs each year. The 44-page document, titled “Economic Impact of Countering in the Clothing, Cosmetics, and Toy Sectors in the EU,” reveals the ...
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News briefsAsics Italia moves to new HQ
Japanese sportswear firm Asics has inaugurated its new Italian headquarters at Corso Alcide De Gasperi 57, in the Piedmontese city of Cuneo. Its previous Italian headquarters were located at Palazzo di Madonna dell’Olmo, also in Cuneo. The new two-floor space is designed to encourage sociality, explained the company. There are ...
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ArticleDecathlon Austria with successful 2023
The international sporting goods manufacturer and retailer Decathlon, headquartered in France, can look back on a successful 2023 in Austria. In addition to encouraging increases in employees and sales, there was also growth in the form of another store. Source: Decathlon Decathlon Austria Managing Director Gábor Pósfai ...
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News briefsGolfForever secures $10 million in funding
US company GolfForever has developed a product allowing golfers of all skill levels to train at home. Engineered by experts in both technology and fitness, the company now announced the successful closure of a $10 million Series A funding round. Two high-profile golfers, South Korean PGA Tour winner Tom Kim ...
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News briefsXponential updates FY23 operating highlights
US-based Xponential Fitness, Inc., a global franchisor of boutique fitness brands, which generated $1.4 billion in systemwide sales and 16 percent same-store sales growth in 2023, has updated its FY23 operating highlights. This includes an increase in the number of studios to 3,062 and total licenses to 6,255 across ...
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ArticleOn Holding plans further expansion, but no Tiger signing
Swiss company On Holding, which had a phenomenal 2023 in terms of sales and profitability growth, is promising to unleash a plethora of new products over the next 10 to 24 months and be a player at the Paris Games (including new uniforms for the Swiss National Team) this summer, ...
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News briefsAmer Sports files registration statement for planned IPO in the US
Finnish Amer Sports, Inc., which includes the Arc’teryx, Salomon, Wilson, Peak Performance and Atomic brands, among others, announced on Jan. 4, 2024, that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. The ...
