Fossil Group, Inc. has announced the launch of a Practice Statement Letter through its subsidiary, Fossil $(UK)$ Global Services Ltd, as part of the restructuring of its outstanding 7.00% Senior Notes due 2026. This restructuring is under Part 26A of the UK Companies Act 2006 and aims to enhance the company's financial position under its turnaround plan. The Practice Statement Letter, available online, outlines the proposed Restructuring Plan and its effects, encouraging Plan Creditors to review it. The Plan Company plans to seek permission from the High Court of Justice of England and Wales to convene a meeting of Plan Creditors to consider approving the Restructuring Plan.
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