By  on July 17, 2013

PARIS — Vivarte on Wednesday confirmed that it had breached leverage and interest covenants on its loans in May as its sales faltered due to tough trading conditions. The French retail group said it would still be able to meet its debt commitments.

“This absolutely does not call into question the medium-term strategy conducted by the management of the group, nor its capacity for honoring its financial obligations,” Vivarte said in a joint statement with Charterhouse Capital Partners, the British private equity firm that holds 64 percent of its capital.

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