Under Armour Inc. disclosed Thursday that it has borrowed $700 million to ease a lack of liquidity caused by the COVID-19 pandemic. Baltimore-based Under Armour disclosed in a federal filing Thursday that it borrowed the money between March 13 and March 20. The sportswear maker described the move as “a precautionary measure in order to increase its cash position and preserve liquidity given the uncertainty in global markets resulting from the COVID-19 outbreak.” “The company considers the aggregate…
from https://www.bizjournals.com/baltimore/news/2020/03/26/under-armour-faces-coronavirus-cash-crunch-borrows.html?ana=RSS&s=article_search
via https://baltimorecheckbook.tumblr.com/post/613691248470048768
No comments:
Post a Comment