Forward Industries, Inc. (FWDI): restructuring charge — Forward Industries estimates $1.7M cost from exit of retail distribution operations

Forward Industries, Inc.

Estimated costs of approximately $1.7 million related to ceasing Retail Distribution Operations.
Exit will not affect the Company's Design or OEM Distribution businesses.
Retail Distribution segment had operating loss of $1.062M for six months ended March 2023 and $1.809M in FY 2022.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Forward Industries, Inc. announced a restructuring with charges of approximately $1.7million affecting Retail Distribution Operations.

Type: restructuring
Charge: approximately $1.7million
Affected area: Retail Distribution Operations

Exact text from the filing

the Company has determined that the costs that the Company will incur as a result of the exit will be approximately $1.7million.

View on SEC.gov

6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Forward Industries, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-008982

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.