Fri 01/06/2023 11:27 AM
Matalan's senior secured bondholders look set to resort to their fallback option of taking over the U.K. value retailer, according to sources. An ad hoc group holding the majority of the second lien bonds withdrew from the sale process, while other bids for the company seem to have fallen short of the threshold the senior secured bondholders had targeted, sources added.
The ad hoc group of second lien creditors decided to withdraw from the second round of the M&A process after Matalan’s...
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