Group parent company Oscar Properties has submitted an application for corporate restructuring. The decision has been prompted by the parent company's lack of liquidity and high loan-to-value ratio. The application concerns the listed parent company, Oscar Properties Holding AB.

The company has been working for some time with a plan that includes a settlement with all of the company's creditors. In the plan, views from certain creditors have been taken into account.

A corporate restructuring is deemed to be appropriate in order to complete negotiations with the company's creditors and to give the Company the necessary time to negotiate with lenders with the aim of creating a long-term sustainable capital structure, including the possibility of capital acquisition and implementing immediate organizational changes. The company's and the group's operations must continue as usual during the reconstruction.

In connection with this, the company also announces that founder Oscar Engelbert is leaving the company completely, reports Dagens Nyheter.