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Compass Diversified (NYSE:CODI) ("CODI" or the "Company") announced today that on July 25, 2025, the Company and its lender group entered into a second forbearance agreement, extending the prior forbearance period until October 24, 2025. CODI's lenders have further increased the amount of availability on the Company's $100 million revolving credit facility, increasing it from $40 million to $60 million during the forbearance period.
CODI originally entered into a forbearance agreement with its lenders on May 22, 2025 in the wake of CODI's investigation into financial and accounting irregularities at its subsidiary, Lugano Holdings, Inc. ("Lugano"). The investigation has preliminarily identified irregularities in Lugano's financing, accounting, and inventory practices.
CODI is focused on completing the investigation, which is progressing in line with expectations, and actively working to finalize the necessary financial restatements. Importantly, the investigation is focused on Lugano and does not involve any of CODI's other subsidiaries.
Posted In: CODI
