Fossil Group Gets Bankruptcy Protection for Notes Restructuring

Dow Jones
11/13
 

By Katherine Hamilton

Fossil Group was granted Chapter 15 protection in connection with the restructuring of its 7% senior notes due 2026.

The watch company plans to cancel all the notes. It intends to instead issue 9.5% first-out first lien secured senior notes, and 7.5% second-out second lien secured senior notes due in 2029. Both sets of notes are due in 2029.

Fossil was granted protection to proceed with the restructuring by U.S. Bankruptcy Court for the Southern District of Texas.

Earlier this week, a U.K. court granted sanctioning of the restructuring. The latest ruling in a Texas court covers the company's U.S. business.

Fossil expects to distribute the securities issuable upon the cancellation of the notes in the next few days.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

 

(END) Dow Jones Newswires

November 12, 2025 17:48 ET (22:48 GMT)

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