DFO to be broken up and sold: report

August 23, 2010 § Leave a comment

Debt-ridden Direct Factory Outlet (DFO) will reportedly be broken up and sold store by store, with the proceeds expected to go towards servicing its $1 billion bank debt.

Read more

Advertisements

Banks agree to DFO lifeline

August 20, 2010 § Leave a comment

The Direct Factory Outlets (DFO) retail chain has avoided receivership after a deal was reached between its parent company and banks.

Developer Austexx, which owns the chain, has been negotiating with a consortium of four banks since Monday. It owes the banks $450 million.

ACCC chairman Graeme Samuel is believed to have a holding in the owner of DFO through a blind trust and was not aware of how much debt the company was in.

It is understood a deal was reached last night after approval for more credit was given by all parties.

Read more

Where Am I?

You are currently browsing entries tagged with Direct Factory Outlets at JC Street's StreetBlog.