By  on March 16, 2017
The employees of Vivarte protesting in front of the French economy ministry.

PARIS — Vivarte has loosened the noose on its crippling debt.

The French fashion group said its creditors have agreed unanimously to waive a chunk worth 846 million euros, or $907 million at current exchange rates, reducing its total debt to 572 million euros, or $613 million. In addition, the maturity on the remaining amount has been extended by two years to 2021, it said in a statement on Thursday.

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