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.
August 20, 2010 § Leave a comment
Developer Austexx, which owns the chain, has been negotiating with a consortium of four banks since Monday. It owes the banks $450 million.
It is understood a deal was reached last night after approval for more credit was given by all parties.