Fri 04/22/2022 06:00 AM
Schur Flexibles Restructuring Update from Reorg's EMEA Core Credit Team
Schur Flexibles has lowered its revised 2022 reported EBITDA budget to €11.5 million from €55.2 million as a result of the additional restructuring costs it expects to incur after shareholders walked away, requiring the group to launch a debt-for-equity swap workout and to seek fresh funding. KPMG, which produced the Austrian specialist flexible packaging group’s IBR, highlighted some €8.1 million of...
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