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.
ALSO READ Future Lifestyle Fashion revival plan starts after Reliance acquisition deal fizzles
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.
RELEVANT NEWS Future of Future Group?
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)
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