Kid ASA

Regulatory Filings • Mar 18, 2020

Notice of temporary layoffs

Notice of temporary layoffs

Following the COVID-19 pandemic situation, KID is currently experiencing reduced

turnover as the number of customers visiting shopping malls and our stores is

falling. Although KID has a solid financial situation and sufficient liquidity

to face the current situation, we are nevertheless proactively taking actions to

maintain a healthy business and secure the interest of both employees, owners

and other stakeholders until the COVID-19 situation has normalised.

Based on the above, Kid ASA has decided to formally give notice of temporary

layoffs to a number of store employees and employees within central functions at

the headquarters. This will enable the company to quickly adjust staffing if and

when necessary.

Going forward, we will continue to monitor the situation closely and will not

hesitate to take necessary, pre-emptive actions.

Further enquiries:

CEO Anders Fjeld +47 996 32 121