FLFL informs lenders to present a debt restructuring plan

29 April 2022, Mumbai:

Future Lifestyle Plans Debt Restructuring Pitch.

Tells lenders it will soon present plan; must arrange *163 crores by tomorrow to keep bankruptcy at bay.

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Future Tense
Future Lifestyle Fashion (FLFL) has a debt of Rs 2,129 cr.
Promoter Ryka Commercial Ventures has raised Rs 1205 cr from Blackstone.
FLFL had paid Rs 47.26 cr on Mar 31 to lenders as per one-time restructuring.
FLFL has to pay Rs 63 cr of the working capital loan; infuse Rs 100 cr equity.

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Payment has to be made by April 30 to avoid default.

Future Lifestyle Fashion Ltd (FLFL) informed on April 26 that it would soon present a debt restructuring plan, a move aimed at staving off its entry into the bankruptcy process, said two people aware of the matter.

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CREDITS: ET Dt 29-04-2022 (The news article has not been edited by DFU Publications staff)