Setterwalls advised an ad hoc committee of bondholders in the negotiation and implementation of the recapitalisation of the Ellos Group

The recapitalisation has included, inter alia, the acquisition of the Ellos Group from the bankruptcy estate of Ellos Group Holding AB through a so-called NT Refectio structure, an issue of a liquidity bond, conversion of existing debt obligations of approx. SEK 0.78 billion into shares and an amendment and extension of existing bond commitments of approximately SEK 1.15 billion. The transactions reduce the Ellos Group’s debt and provides the Ellos Group with equity.

The successful completion of the recapitalisation was announced on 28 November 2024.

The Ellos Group, which includes the e-stores Ellos, Jotex, Homeroom and the payment brand Elpy, is a leading e-commerce group in the Nordic region. The Ellos Group, with headquarters in Borås and operations in all Nordic countries as well as selected European markets, has approximately 550 employees and a turnover of approximately SEK 3.4 billion.