Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Vivarte Agrees to $3.8 Billion Restructuring With 12 Lenders

Vivarte SAS, the French retailer in talks to restructure 2.8 billion euros ($3.8 billion) of loans, reached a deal with lenders controlling more than 50 percent of the debt.

Alcentra Ltd., Babson Capital Management LLC, and Oaktree Capital Group LLC are among 12 lenders backing a proposal to reduce the company’s debt to 800 million euros and convert the remainder into equity, according to an e-mailed statement from Paris-based Vivarte. The plan, which will be voted on by the retailer’s 170 creditors, requires a cash injection of 500 million euros into the business.

“I am very pleased with the progress we’ve made and the support we’ve got from our lenders,” said Marc Lelandais, Vivarte’s chief executive officer in a telephone interview. “I’m confident we’re heading in the right direction.”

Vivarte is seeking to restructure its borrowings after failing to persuade enough lenders to waive loan covenants that capped its ratio of debt to earnings. The company, founded in 1896 to sell “elegant but affordable shoes,” was bought by London-based Charterhouse Capital Partners LLP in 2007 in a deal financed with 3.4 billion euros of loans.

The deal was presented at a bank meeting today after the company received restructuring proposals from five groups of lenders.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.