Bendon parent Naked needs another US$15m to keep BNZ onside

Wed, 08 Jan 2020

Bendon’s Nasdaq-listed owner Naked Brand Group needs to raise another US$15 million to keep Bank of New Zealand onside.Naked has raised US$32.4 million by issuing new capital and selling convertible notes since the end of January and said it will need more funds to bridge another two years of forecast losses. The lingerie company had accumulated losses totalling $151 million as at July 31, all but wiping out its share capital and leaving its equity position at just $4 million, according to first-half company accounts filed with the US Securitie...

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