Bendon’s Naked ambition unravels

The Naked family in better times.

Fri, 23 Apr 2021

Local lingerie maker Bendon’s future hangs in the balance today – shareholders of its Nasdaq-listed parent Naked Brand either give it away in a sweetheart deal to their chairman Justin Davis-Rice, or they stump up millions to liquidate the knickers company.Davis-Rice and Bendon chief executive Anna Johnson have offered to buy the company for $1, and have the blessing of Naked’s independent directors who just want to be done with the thing.In theory, it seems like a good deal. Naked will shed the cash-burn of Bendon’...

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