Pepe Jeans falls into loss, refinances debt
Pepe Jeans Group, the Barcelona-based fashion company, slumped into a loss in 2017 as revenues remained at 531 million euros, up by just 0.71% from the previous year, according to a report from El Confidencial.
The Pepe Jeans brand was the star performer, and the only brand in the group to record positive results, with sales up 1.6% to 388 million euros, reported the newspaper.
The group’s portfolio also includes Hackett London and Façonnable, which was acquired in 2016. Hackett saw revenues fall by 6% to 163.9 million euros, and Façonnable reported losses of 4.7 million euros.
For the group, this meant ending the year with an EBITDA of 30.68 million euros, and aggregate losses of 13.17 million euros.
As a result, the company was forced to refinance its debt with BBVA. The group entered into a new term loan facility of 250 million euros until July 2021.
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