Johnson Outdoors Inc. modifies its debt agreements
October 17, 2008
Filed under News
RACINE, Wis. – Johnson Outdoors Inc. (NasdaqGM: JOUT), a global outdoor recreation company, has entered into a short-term, interim agreement, which modifies certain provisions of the company’s existing debt agreements dated October 7, 2005 and February 12, 2008. The Company’s Form 8-K regarding the interim agreement was filed with the SEC yesterday and is available at www.johnsonoutdoors.com under Investors.
“Our current debt agreements never could have foreseen the dramatic downturn in the economy and the impact it would have on our industry,” said David W. Johnson, Chief Financial Officer. “We are working closely with our lenders on a long-term debt facility that may lead to increased borrowing costs in the future.”
Johnson Outdoors designs, manufactures and markets a portfolio of consumer brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment.
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