Restructure at LazyTown - Licensing.biz

Restructure at LazyTown

Credit facility secured, no refinancing risk for the next two years.
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Following months of speculation as to its future, LazyTown has confirmed it has finalised its restructuring with bondholders and the bank.

The firm's equity ratio is now above 80 per cent and there are no repayments of loans for the next two years. In addition, the company has secured a credit facility and there is no refinancing risk for the next few years.

Five execs now make up the UK office - Adam Selly, senior director, global TV; licensing directors Barbora Sopkova, Catrina O'Brien and Dan Frugtniet; plus director of PR and marketing, Suzanne Noble.

Magnus Scheving, LazyTown CEO, commented: "I'm extremely thankful and grateful to the stakeholders who worked together to conclude this process. We are excited to continue leveraging the incredible opportunities being presented to the brand, while at the same time contributing towards a healthier new generation of young people."

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