25 April 2022, Mumbai:
The holistic resolution makes sense as biz of Future Group entities interdependent
What's in the Future
Future Group's outstanding dues: Rs 28,921 crores as of Jan 31, 2022.
Recovery could be 10% or less.
ALSO READ Future of Future Group?
Bol has filed a petition seeking insolvency proceedings against Future Retail.
Lenders will pursue the same route for other defaulting groups cos.
RELEVANT NEWS Reliance Retail takes over Future Group stores
MAIN ASSETS THAT REMAIN WITH THE FUTURE:
30 large-format stores, 300 small-format outlets, all on lease.
A fully automated supply chain solutions facility in Nagpur.
About 20 ownership stores pledged with different lenders.
Future Group's lenders will pursue group insolvency after the deal to sell assets to Reliance Industries Ltd (RIL) companies collapsed, said three people aware of the development, pegging recovery at less than 10%.
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CREDITS: *ET Dt 25-04-2022 (The news article has not been edited by DFU Publications).
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