Borg to wind up business
NZPA-Reuter Stockholm The fashion business of the former tennis star, Bjorn Borg, is in deep financial trouble and may soon be liquidated, the group’s chief executive officer said. “We are going to wind up all Bjorn Borg’s companies,” Mr Lars Sharke, a long-time friend of the Swedish tennis star and the brains behind most of Borg’s business deals, said when asked about recent Swedish press reports concerning the group. Borg, aged 33, owns 75 per cent of the holding company, Bjorn Borg Enterprises, and Mr Sharke has the rest. Mr Sharke said the group was in serious need of cash to pay creditors and to buy new stock. Last week, Borg turned down a rescue package put forward by the investment company, Mercurius. That led to the resignation of the Brog group’s chairman, Mr Hakan Frisinger,
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Press, 26 July 1989, Page 32
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141Borg to wind up business Press, 26 July 1989, Page 32
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