Tom Tailor agrees to new financial structure with banks and Fosun

Troubled fashion retailer Tom Tailor Group has reached an agreement with the consortium banks and majority Chinese shareholder Fosun on a new financing structure until the end of September 2022. Due to the planning timeframe through to 2022, the company’s management board has adjusted the preliminary results for fiscal 2018 that were published on May 13, 2019 and now expects turnover for the Tom Tailor brand at 618.1 million euros, an EBITDA of 64 million euros and an EBITDA margin of 10.4 percent, while turnover at the Bonita division remains at 225.7 million euros but EBITDA has decreased to 38.2 million euros.