Fossil Group creditors approve plan for $150M 7.00% notes, court next
Fossil Group, Inc. announced that creditors of its subsidiary’s US $150,000,000 7.00% Senior Notes approved a restructuring plan under Part 26A of the UK Companies Act.
Rhea-AI Filing Summary
Fossil Group, Inc. announced that creditors of its subsidiary’s US $150,000,000 7.00% Senior Notes approved a restructuring plan under Part 26A of the UK Companies Act. Approval required at least 75% in value of notes held by creditors present and voting; 82.88% by value were present at the meeting.
With creditor approval secured, a sanction hearing before the High Court of Justice of England and Wales is expected on November 10, 2025 in London, where the Court will consider the Plan Company’s application to sanction the restructuring plan.
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Insights
Creditor approval cleared; court sanction next determines outcome.
Fossil Group reported creditor approval of a UK Part 26A restructuring plan tied to its subsidiary’s $150,000,000 7.00% Senior Notes. The plan needed at least 75% in value of voting creditors to pass, and attendance reached 82.88% by value. This step positions the plan for judicial review.
The key dependency is the High Court’s sanction. The hearing is expected on November 10, 2025. If sanctioned, the plan’s terms become binding as set out under Part 26A; if not, the company may need alternative pathways referenced in its cautionary statements.
Investors can anchor near-term milestones to the November 10, 2025 sanction hearing. Actual outcomes will hinge on the Court’s decision and any subsequent implementation steps disclosed in future filings.
8-K Event Classification
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did FOSL announce regarding its debt?
What approval threshold applied to FOSL’s restructuring plan?
How many creditors participated by value in the vote for FOSL?
What is the next step after creditor approval for FOSL (FOSL)?
Which instrument is covered by FOSL’s plan approval?
Where will the sanction hearing for FOSL be held?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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| Item 7.01 | Regulation FD Disclosure. |
On November 6, 2025, Fossil Group, Inc. (the “Company”) issued a press release announcing that its subsidiary, Fossil (UK) Global Services Ltd (the “Plan Company”) held a single meeting (the “Plan Meeting”) of such persons who are or may be creditors of the Plan Company (the “Plan Creditors”) in respect of the Company’s US $150,000,000 7.00% Senior Notes (the “Notes”), at which its restructuring plan pursuant to Part 26A of the Companies Act 2006 (as amended) (the “Restructuring Plan”) was approved by the requisite statutory majority of Plan Creditors.
For the Restructuring Plan to be approved by the Plan Creditors, at least 75% in value of the Notes held by the Plan Creditors who were present and voting (in person or by proxy) at the Plan Meeting needed to vote in favour of the Restructuring Plan. 82.88% of Plan Creditors by value entitled to vote on the Restructuring Plan were present (either in person or by proxy) at the Plan Meeting, of which:
| • | 363 Plan Creditors voted in favour of the Restructuring Plan, representing 99.99% by value of the Plan Creditors present and voting (in person or by proxy) at the Plan Meeting; and |
| • | 1 Plan Creditor voted against the Restructuring Plan, representing 0.01% by value of the Plan Creditors present and voting (in person or by proxy) at the Plan Meeting. |
As the Restructuring Plan was approved by the Plan Creditors at the Plan Meeting, a hearing before the High Court of Justice of England and Wales (the “Court”) will be held in respect of the Plan Company’s application for the sanction of the Restructuring Plan (the “Sanction Hearing”). The Sanction Hearing is expected to be held at the Royal Courts of Justice, Rolls Building, Fetter Lane, London EC4A 1NL, United Kingdom on November 10, 2025. The exact time and location will be confirmed and published by the Court by 4:30 p.m. (London time) / 11:30 a.m. (New York City time) on November 7, 2025 in the Insolvency & Companies Court Cause List.
A copy of the press release issued on November 6, 2025 is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated into this Item 7.01 by reference.
The information furnished in Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”), except as shall be expressly set forth by specific reference in such filing.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. |
Document Description | |
| 99.1 | Press Release, dated November 6, 2025. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
Forward-Looking Statements
This report contains statements that are not purely historical and may be forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by words such as “anticipate,” “target,” “expect,” “estimate,” “intend,” “plan,” “aim” “seek,” “believe,” “continue,” “will,” “may,” “would,” “could” or “should” or other words of similar meaning. There are several factors which could cause the Company’s actual plans and results to differ materially from those expressed or implied in forward-looking statements and these forward-looking statements are based on information available to us as of the date hereof and represent management’s current views and assumptions. Such factors include, but are not limited to: risks related to the success of our restructuring and turnaround plans; risks related to strengthening our balance sheet and liquidity and improving working capital; risks related to our planned
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non-core asset sales; increased political uncertainty; the effect of worldwide economic conditions, including recessionary risks; the effect of pandemics; the impact of any activist shareholders; the failure to meet the continued listing requirements of NASDAQ; significant changes in consumer spending patterns or preferences and lower levels of consumer spending resulting from inflation, a general economic downturn or generally reduced shopping activity caused by public safety or consumer confidence concerns; interruptions or delays in the supply of key components or products; acts of war or acts of terrorism; loss of key facilities; a data security or privacy breach or information systems disruptions; changes in foreign currency valuations in relation to the U.S. dollar; the performance of our products within the prevailing retail environment; customer acceptance of both new designs and newly-introduced product lines; changes in the mix of product sales; the effects of vigorous competition in the markets in which we operate; compliance with debt covenants and other contractual provisions and our ability to meet debt service obligations; risks related to the success of our business strategy; the termination or non-renewal of material licenses; risks related to foreign operations and manufacturing; changes in the costs of materials and labor; government regulation and tariffs; our ability to secure and protect trademarks and other intellectual property rights; levels of traffic to and management of our retail stores; if the transactions contemplated by the prospectus (the “Prospectus”) dated September 25, 2025, as supplemented by a prospectus supplement dated October 16, 2025, in the registration statement (including a prospectus) on Form S-3, as amended and supplemented (File No. 333-290139) (the “S-3 Registration Statement”) and the registration statement (including a prospectus) on Form S-4, as amended and supplemented (File No. 333-290141) (together with the S-3 Registration Statement, the “Registration Statements”) are not consummated, the potential delays and significant costs of alternative transactions, which may not be available to us on acceptable terms, or at all, which in turn may impact our ability to continue as a going concern; the significant costs incurred by us in connection with the transactions contemplated by the Registration Statements; our inability to comply with the restrictive debt covenants contained in the new notes to be issued in connection with the transactions contemplated by the Registration Statements; and loss of key personnel or failure to attract and retain key employees and the outcome of current and possible future litigation. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risk factors discussed from time to time in the Company’s filings with the SEC, including, but not limited to, those described under the section entitled “Risk Factors” in our Annual Report on Form 10-K filed with the SEC on March 12, 2025, our Quarterly Reports on Form 10-Q filed with the SEC on May 15, 2025, and August 14, 2025, and subsequent filings with the SEC, which can be found at the SEC’s website at http://www.sec.gov. For the reasons described above, we caution you against relying on any forward-looking statements. Any forward-looking statement made by us in this report speaks only as of the date on which we make it. Factors or events that could cause actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. No recipient should, therefore, rely on these forward-looking statements as representing the views of the Company or its management as of any date subsequent to the date of this report.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FOSSIL GROUP, INC. | ||
| By: | /s/ Randy S. Hyne | |
| Name: Randy S. Hyne | ||
| Title: Chief Legal Officer and Secretary | ||
Date: November 6, 2025
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