FNG Nordic AB (publ) (the “Company”) has been informed that the Company's parent company is initiating insolvency proceedings in Belgium. The Company and its subsidiaries are not part of the parent company's insolvency proceedings but continue their operations as before.

The Company, which is the owner of Ellos Group, is currently evaluating the consequences of the parent company's insolvency. The Company and its subsidiaries are independent of the parent company and are not dependent on the parent company to conduct their business.

‘FNG Nordic and its subsidiaries within the Ellos Group are neither operationally nor financially dependent on support from the parent company in Belgium. FNG Nordic together with its subsidiaries within the Ellos Group are profitable and self-sufficient,’ says Hans Ohlsson, CEO Ellos Group.

As previously communicated, the board of Ellos Group continues to evaluate strategic options with the objective to give Ellos Group the best possible settings, capital structure and future possibilities.

For more information:
Hans Ohlsson, VD Ellos Group
Johan Stigson, CFO Ellos Group
Telephone. +46 (0)33 16 08 05

ABOUT ELLOS GROUP

The Ellos Group, which includes Ellos, Jotex, Stayhard, and Homeroom, is the Nordic region’s leading e-commerce group. Working closely with our millions of customers, we are constantly striving to develop and offer attractive and sustainable fashion and household items for the entire family. Our focus is always on the customer. We continuously work to develop our business through innovation, creativity, and sustainability. The Ellos Group, headquartered in Borås, and with operations in all Nordic countries, has around 550 employees and sales of around SEK 3.2 billion. www.ellosgroup.com