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.
- Melbourne DFO under threat (heraldsun.com.au)
- DFO crisis talks drag beyond deadline (heraldsun.com.au)
- Last-ditch talks to save South Wharf DFO (news.theage.com.au)
- DFO battle to survive (heraldsun.com.au)
- DFO saved in late reprieve (heraldsun.com.au)
- DFO has bankers nervous (theage.com.au)
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.