Electrolux Issues Statement On Impact From Sears' Restructuring - Quick Facts

(RTTNews) - Electrolux (0MDT.L, 0GQ1.L, ELUXY.PK) announced the Group does not currently assess a need for material one-time costs as an immediate consequence of Sears' restructuring under Chapter 11. However, the Group noted that it cannot be ruled out that there may be a material impact on the future sales and earnings of Electrolux business area Major Appliances North America. The business area's exposure to Sears is currently about 10 percent of its total revenues.

Electrolux said it intends to work with Sears' restructuring officer to explore the prospects of continuing its business with Sears, while continuing to manage the financial and operational exposure.