home straight.

• Negotiations have reached an advanced stage

• Large majority of creditors supports the restructuring process

• Robust increase in sales

Kronach.- Two investors have entered the last stage of the Loewe sales process. This means that two bidders are now interested in assuming the Loewe business activities. The talks have already reached an advanced stage and are highly positive, Loewe CFO Rolf Rickmeyer reports. This is supported by the fact that the business has returned to stable operations: customers are buying again and we see robust sales growth.

In the meanwhile, the large majority of Loewe creditors has approved the management board's restructuring course and the continuation of the operating business at today's creditors' meeting before the district court of Coburg. The creditors' approval is a clear vote of confidence and an important signal, Loewe CEO Matthias Harsch underlines. Hence there is nothing to stand in the way of continued business operations for the remaining term of the investor process.

A first investor decided in October to buy Loewe. Both bidders have committed to supporting the strategic realignment concept in the long term. The restructuring measures already implemented and the strategic partnership with Hisense render Loewe ready for a new beginning, Matthias Harsch adds. As soon as the purchase agreement has been signed, the company will be able to start in full force.

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