XXL ASA – consent to transfer of creditor position under secured revolving loan facility agreement

XXL ASA ("XXL") announces today that it has consented to a transfer of the creditor position under its secured revolving loan facility agreement, including all security thereunder. The consent is given in respect to a binding agreement for such transfer which was last night entered into between XXL's current lenders as transferors and Sportsdirect.com Retail Ltd as transferee.

XXL will together with Frasers Group plc ("Frasers") continue with an ongoing review of the future viability of the current XXL business. Whilst the immediate future of XXL is secure, attempts to place XXL on a sustainable footing going forward will require support from all stakeholders, including but not limited to brand partners, suppliers, landlords and other partners. Due to the significant distress of XXL that was inherited by Frasers, it is now crucial that all of these parties work collaboratively with the company and Frasers in its efforts to save XXL.