LINDEX GROUP plc, Inside Information 9.6.2025 at 14:00 EEST
Inside information: Lindex Group settles the last dispute related to the restructuring process and will seek to end the restructuring programme
Lindex Group plc has settled the remaining dispute related to its restructuring process with LähiTapiola Keskustakiinteistöt Ky. The dispute comprised two separate claims between Lindex Group plc and its subsidiaries and LähiTapiola Keskustakiinteistöt Ky and related to the amount of damages to be paid for the termination of the lease agreement for Stockmann's department store in Tapiola. The compensation to be paid is considered as restructuring debt.
Lindex Group has in 2022 made a provision of EUR 15.9 million of the disputed claims in question. The settlement of the disputes will not impact Lindex Group's adjusted operating result but will have a positive impact on Lindex Group's operating result. After the settlement, all undisputed debts, confirmed in their final amounts, will be duly paid as part of the restructuring process.
The settlement enables Lindex Group plc to seek ending the restructuring programme. This process will be started in cooperation with the supervisor of the restructuring programme by preparing an application to amend the restructuring programme as soon as possible. The restructuring debts will be paid after Helsinki District Court's decision concerning the amendments to the restructuring programme is final. The supervisor has informed Lindex Group that after the restructuring debts have been paid a final report on the implementation of the programme, ending the restructuring, will be presented.
Following the settlement between Lindex Group and LähiTapiola Keskustakiinteistöt Ky, Lindex Group's Board of Directors will review the impact it will have on the Group's strategic assessment, which the Board previously announced in September 2023. Lindex Group will provide an update on the assessment when appropriate.
"Settling the last dispute enables Lindex Group to seek the ending the restructuring programme, which is an important and positive milestone. It will improve the Group's operational autonomy in both its daily business and long-term development," says Sari Pohjonen, Chair of Lindex Group's Board of Directors. "The lengthy restructuring process has also impacted the ongoing strategic assessment. Ending the restructuring programme also creates a new outlook for the strategic assessment, which we continue to fully focus on in order to evaluate the best long-term alternative for the Stockmann department store business".
LINDEX GROUP plc
Board of Directors
Further information:
Susanne Ehnbåge, CEO of Lindex Group
Via Group Communications & Investor Relations, MediaDesk tel. +358 50 389 0011
Jukka Naulapää, Chief Legal Officer of Lindex Group, tel. +358 9 121 3850
Distribution:
Nasdaq Helsinki
Principal media
Lindex Group plc is an international multichannel retail group with two divisions: Lindex and Stockmann. Lindex is a global fashion company with a purpose to empower and inspire women everywhere. Its three strong categories include women's and kids' wear as well as lingerie, where it is a market leader in the Nordics. Stockmann is a premium multi-brand retailer with department stores in Finland and the Baltics. Its purpose is to be a marketplace for a good life. In 2024, the Lindex Group's revenue was EUR 940 million and it had some 5 750 employees. The Group's roots lie in the Stockmann company founded in 1862 and its shares are listed on the Nasdaq Helsinki Ltd. in Finland. www.lindex-group.com
