Eric Watson's moneybag shuts for Bendon owner Naked, as it seeks $26M by July

Sun, 30 Dec 2018

By Paul McBeth Dec. 28 (BusinessDesk) - Bendon's Nasdaq-listed owner Naked Brand Group's former route to a bail-out - former Bendon owner Eric Watson - is closed as it seeks to raise another $26 million by July. Having breached its loan terms with Bank of New Zealand yet again, Naked can't go back to Watson, whose Cullen Group has injected capital in the past but is now dealing with its own issues. Lingerie firm Naked's solvency remains a live question, with directors saying there's "substantial doubt" it can operate as a going concer...

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