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Thursday 9th February

Whitcoulls Owner Talking To Financiers

Posted at 6:45AM Thursday 29 Jul 2010

REDgroup Retail, operator of bookstore chains Whitcoulls and Borders, is talking to its financiers in a bid to get a waiver from an expected breach of banking covenants in August.

The company said that following consideration of its most recent management accounts, the board has formed the view that the company is likely to breach two out of three of its banking covenants when they are tested on August 28.

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Whitcoulls Owner Talking To Financiers

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