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Debt-Laden Samsonite Reels From Coronavirus Crisis Aftershocks

By Sean O’Neill, Skift

Samsonite

A close-up photo of Samsonite Freeform hard-side suitcase. Samsonite’s debt load provides the luggage maker with a limited cushion to absorb any potential performance declines due to coronavirus, ratings agencies said. Samsonite

Skift Take: By itself, the coronavirus scare needn’t be like kryptonite to Samsonite, which has high gross margins. But the long-term double whammy of supply shocks (due to factory closings) and demand shocks (due to travelers pulling back on spending) may reduce the company’s ability to pay interest on its heavy debts.

— Sean O’Neill

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