Note To Take Charges of $2.7M Due to Customer Bankruptcy
Published: 13 October 2022
by Tyler Hanes
STOCKHOLM -- Note took charges of SEK 30 million ($2.7 million) for potential bad debt after one of its UK customers applied for that nation's form of bankruptcy protection.
The undisclosed customer, which Note said is active in electric vehicle charging, has applied for administration, the EMS company added.
The potential bad debt does not affect its underlying operations, said Note, which expects continued high growth for the second half of the year.
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