×
91 458
Fashion Jobs
BLOOMINGDALE'S
Asset Protection Detective, Full Time - Soho
Permanent · NEW YORK
BLOOMINGDALE'S
Registry Consultant, Full Time - Boca Raton
Permanent · BOCA RATON
H&M
842 Area Visual Manager
Permanent · LOS ANGELES
BLOOMINGDALE'S
Asset Protection Detective, Full Time - Short Hills
Permanent · MILLBURN
URBN
Urban Outfitters Visual Merchandising Manager
Permanent · COSTA MESA
COLUMBIA SPORTSWEAR COMPANY
Regional Loss Prevention Manager (Northwest-us)
Permanent · SALEM
COLUMBIA SPORTSWEAR COMPANY
Operations Manager - Swing Shift
Permanent · PORTLAND
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time, Chestnut Hill
Permanent · NEWTON
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time, Chevy Chase
Permanent · CHEVY CHASE
BLOOMINGDALE'S
Asset Protection Detective, Full Time, San Francisco
Permanent · SAN FRANCISCO
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time, Huntington
Permanent · HUNTINGTON STATION
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time, San Francisco
Permanent · SAN FRANCISCO
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time, Dolphin Mall
Permanent · MIAMI
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time, Jersey Gardens
Permanent · ELIZABETH
BLOOMINGDALE'S
Wedding & Gift Registry Consultant, Full Time, Norwalk
Permanent · NORWALK
BLOOMINGDALE'S
Manager, Sales - Women's Ready to Wear/Shoes: Norwalk
Permanent · NORWALK
BLOOMINGDALE'S
Manager, Sales - Mens Shoes
Permanent · NEW YORK
BLOOMINGDALE'S
Senior Art Director, Photo
Permanent · NEW YORK
BLOOMINGDALE'S
sr. Director, HR Business Partner - Marketing/Creative/Finance/Support
Permanent · NEW YORK
BLOOMINGDALE'S
Asset Protection Outlet Visual Security Officer, Part Time: Park Lane
Permanent · DALLAS
BLOOMINGDALE'S
Outlet Keyholder Selling, Full Time, Livermore
Permanent · LIVERMORE
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Full Time, Soho
Permanent · NEW YORK
By
Reuters
Published
Jun 12, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Folli says needs time to finish audit, will fix 'operational failures'

By
Reuters
Published
Jun 12, 2018

Luxury jewellery maker Folli Follie, whose finances are being probed by the Greek authorities, said it needed time to conclude an audit and would fix any “operational failures”.

Folli Follie - Folli Follie


The Greek firm’s shares plunged on the Athens stock exchange in May after a long-short equity fund Quintessential Capital Management (QCM) issued a report in May saying the company had overstated the number of retail outlets it operated worldwide.

Folli denied the report, saying it was unfounded and misleading.

Greece’s securities regulator suspended the shares from trading on May 25 after Folli failed to provide requested financial data.

Last week a prosecutor ordered a preliminary investigation into the company after the securities regulator filed a lawsuit against Folli’s management.

Local media reported last week that Folli was dragging its feet on signing a contract with the audit firm that would scrutinise its finances at the regulator’s request.

Folli said in a bourse filing over the weekend that the news was “inaccurate” and that it needed time to prepare “such a demanding and complex task.”

“We will do everything in our power to provide all required information and we are ready to remedy any operational failures, if any,” Folli said in the filing.

A new internal audit committee, a prerequisite for signing the contract with Ernst & Young for the audit, was set up last week, it added.

Folli is 35 percent owned by the Koutsolioutsos family and had sales of 1.4 billion euros ($1.6 billion) last year, with Asian operations accounting for more than two thirds of turnover.

Its Chief Executive George Koutsolioutsos said the company has been under an “unprecedented attack” and would fix any mistakes that a new strict audit might reveal.

New York-based QCM, which previously said it held a short position on Folli shares, had also said in its report that it was concerned about Folli’s finances.

© Thomson Reuters 2022 All rights reserved.