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    BWNG   GB00B1P6ZR11

N BROWN GROUP PLC

(BWNG)
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N. Brown Lawsuit Claimant Allianz Insurance Applies to Increase Scope of Claim

06/16/2021 | 02:46am EDT

By Joe Hoppe

N. Brown Group PLC said Wednesday that Allianz Insurance PLC has applied to increase the scope of a claim against its subsidiary, estimated at an additional 36 million pounds ($50.7 million.)

The U.K. clothing-and-footwear retailer, which is involved in a claim and counterclaim with Allianz over the sale of historical products by N. Brown's subsidiary JD Williams & Co., said Allianz has issued a further application to the court to expand the size of its original claim relating to an additional customer redress exercise, which Allianz estimates to be as much as GBP36 million.

The company previously said the claim and counterclaim were complex, and proceedings were at an early stage, and as such it couldn't reliably estimate the amount of potential outflow. N. Brown has instead disclosed a contingent liability.

The case is scheduled for trial in March 2022.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

06-16-21 0245ET

Stocks mentioned in the article
ChangeLast1st jan.
ALLIANZ SE -0.71% 210 Delayed Quote.4.63%
N BROWN GROUP PLC 0.00% 50.15 Delayed Quote.-16.69%
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More news
Financials
Sales 2022 745 M 1 035 M 1 035 M
Net income 2022 50,7 M 70,5 M 70,5 M
Net Debt 2022 288 M 400 M 400 M
P/E ratio 2022 7,16x
Yield 2022 2,14%
Capitalization 230 M 320 M 319 M
EV / Sales 2022 0,70x
EV / Sales 2023 0,65x
Nbr of Employees 1 843
Free-Float 35,0%
Chart N BROWN GROUP PLC
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N Brown Group plc Technical Analysis Chart | BWNG | GB00B1P6ZR11 | MarketScreener
Technical analysis trends N BROWN GROUP PLC
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Last Close Price 50,15 GBX
Average target price 81,67 GBX
Spread / Average Target 62,8%
EPS Revisions
Managers and Directors
Steve Johnson Chief Executive Officer & Director
Rachel Izzard Chief Financial Officer & Director
Ronald Thomas McMillan Chairman
Adam John Warne Chief Information Officer
Richard Moross Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
N BROWN GROUP PLC-16.69%320
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INDITEX9.79%105 641
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