Cash-strapped In order to enhance its equity position and restructure its financial debt load in order to stay out of bankruptcy, French retailer Groupe Casino has reached a preliminary arrangement with its creditors.
A prospective debt restructuring agreement with Casino's creditors is now feasible thanks to the board's approval last week of pushing forward with negotiations with Czech billionaire Kretinsky over a plan to infuse €1.2 billion of new capital into the struggling French retailer.
A prospective debt restructuring agreement with Casino's creditors is now feasible thanks to the board's approval last week of pushing forward with negotiations with Czech billionaire Kretinsky over a plan to infuse €1.2 billion of new capital into the struggling French retailer.
