Watchmaker Fossil Wins UK Recognition of Restructuring Plan

Watch and fashion accessory company Fossil said it’s received creditor and UK judicial approval for a plan to restructure $150 million in unsecured notes as it faces a liquidity crunch.

Fossil (UK) Global Services Ltd. received approval of its restructuring plan by the High Court of Justice of England and Wales, company parent Fossil Group Inc. said Monday in a news release. The approval comes after Fossil received approval of the plan from 99.99% of all creditors by value last week, the company said.

“The High Court’s decision to sanction the Restructuring Plan is an important and advanced step as ...