Zoot bond holders offered shares instead of repayment
Published at: 2019-06-03 09:17 | Author: CIJEurope.com
Roughly investors who hold bonds from the troubled on-line fashion retailer Zoot have been offered shares in the company. Under a reorganization plan for the company, which collapsed earlier this year, uncovered bond holders were only supposed receive 10 percent of the original value of the bond. If they were to accept shares in the company, they have a chance of recovering more than that amount. The financial group Natland bought up most of the liabilities of the company and provided it operating capital to stave off total bankruptcy. As a result, Natland is now leading the recovery of the company, which continues to make a loss. In all, Zoot sold CZK 230m in bonds. The shares now being offered in lieu of bond repayments would be freely tradeable.
Romania ♦ Connecting with consumers - a key driver
One of the major drivers for retail success is connecting with consumers, speakers at CEDE »
Czech Republic ♦ Křetínský and Tkáč acquire additional 5.4% stake in Metro
The Czech-based investment group EP Global Commerce (EPGC) has increased its stake in the »
Romania ♦ Which are the major retail trends?
Around 190,000 sq m of shopping space is estimated for delivery this year in Romania, and »
United Kingdom ♦ Delivery app enables bag-free shopping
When it comes to the development of smartphone apps for the retail sector, most of the act »
Poland ♦ Discounter set for Polish expansion
Rumors that Tesco is on the way out of Poland are certainly nothing new, but another Briti »
You’ve been expanding your portfolio as quickly as possible. How are you using the incre »