The Management Board of CDRL, an apparel company that owns Coccodrillo brand, assures that the group met lenders' requirements after the first quarter. It hopes to extend financing and is preparing a cost-cutting plan. After the first three months of this year, the CDRL Group reported sales revenues of PLN55.1m. Thus, they were lower than a year ago by about 14 percent, which the company explains by weaker sales in stationary stores and inventory sales. Operating and net losses deepened year-on-year to PLN4.7m (from PLN2.9m) and PLN4.5m (by about PLN0.5m), respectively. This year marks a due date for three loans granted to the group by Santander Bank Polska, PKO BP and ING Bank Ślaski. The company is counting on the favour of the banks and a development of e-commerce. (ICE VARSAVIA)

Fonte notizia: Pakiet