Gala Agrees On Debt Restructuring Plan ; Financial Mail [Edition 4]
Mail on Sunday › March 14, 2010
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Summary
AFTER six months of tough negotiations, Gala Coral has finally agreed a financial restructuring that will see the gaming giant's private equity owners wiped out and its lenders take control of the group.
Gala, which owns the 1,600-strong Coral chain of betting shops as well as 147 bingo clubs and 27 casinos, had been struggling under Pounds 2.6 billion of debt and poor trading caused by the recession, the smoking ban and tax increases.See the full content of this document
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Gala Agrees On Debt Restructuring Plan ; Financial Mail [Edition 4]
Talks began in September betwee...
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