Electrolux comments on Sears' announcement of filing for relief under Chapter 11.
NORDIC BUSINESS REPORT-October 16, 2018-Electrolux comments on Sears' announcement of filing for relief under Chapter 11
(C)2018 M2 COMMUNICATIONS http://www.m2.com
Global appliance company Electrolux AB (STO:ELUXB) on Monday commented on the announcement by Sears Holdings Corporation (Nasdaq:SHLD), one of the company's major US customer, that it has filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code.
According to Electrolux, following this announcement, it intends to work with Sears' restructuring officer to explore the prospects of continuing its business with Sears, while continuing to manage the financial and operational exposure.
Also, to ensure business continuity and to mitigate the financial exposure, Electrolux has been actively planning for various Sears' contingencies, while also growing the business with other customers.
As a result, Electrolux does not...
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