Innovation Group Hires Deloitte to Review Debt Load
- Company is said to have met with lenders to discuss terms
- Some loans are said to be offered at 52.5 cents on the euro
Photographer: Matthew Lloyd/Bloomberg
This article is for subscribers only.
Innovation Group has hired Deloitte LLP as an adviser to help it negotiate with its creditors, according to people familiar with the situation.
The software-solutions provider has initiated talks with its lenders to rework its capital structure and find new funding, according to the people, who asked not to identified because the discussions are private. Innovation posted a loss of 92 million pounds ($121 million) for the year ended Sept. 30, according to its earnings report filed at the U.K.’s Companies House.