Grover Creditor Warns German Startup Risks Defaulting Next Week
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One of Grover’s main creditors warned it could withdraw emergency funding as soon as next week, sending the troubled German startup into default, if shareholders obstruct its restructuring plan.
Fasanara Capital said it could terminate an agreement to provide liquidity if shareholders back a plan to sell the company back to its founder, according to a Dec. 16 letter from a law firm representing the lender that was seen by Bloomberg.