Eaton's lenders in talks to sell debt
Article Abstract:
T. Eaton Company Ltd's major creditors, a syndicate of US finance firms that include GE Capital Corp and Norwest Corp, are in discussions to sell their debt totaling to C$170 million. Sources said that the sale of the secured debt is a component of a bigger refinancing plan that Canada's oldest retailer is attempting to put together. The financially troubled Eaton, which is preparing to liquidate its inventory, has been given 30 days to assemble a restructuring plan that it can present to its lenders.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Eaton's gets green light on sales
Article Abstract:
T. Eaton Company Ltd has received permission from the court to proceed with liquidation sales at all of its stores across Canada, except its store at Londonderry Mall in Edmonton, which is owned by Gentra Inc. However, the Ontario Superior Court barred Eaton from ordering new merchandise, potentially preventing its liquidator, Gordon Brothers Ratil Partners LLC, from bringing in goods from other suppliers and using Eaton stores as a liquidation channel.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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