Isosceles in debt talks
Sunday 06 December 1992
Hill Samuel, the group's newly-appointed merchant bank, is expected to propose swapping pounds 500m of Isosceles debt for equity. Wasserstein Perella, the US investment bank that holds 30 per cent of the shares, is likely to object to any dilution in its holding.
Gateway's problems come on the back of depressed trading at its 650 supermarkets and a management crisis. Two months ago, Bob Willett, the group's chief executive, was forced to resign, with Alistair Mitchell-Innes, head of Isosceles, taking over temporarily. Headhunters are searching for a permanent chief executive for the supermarket chain.
Simon Calder looks at communities fighting back against the poachers
Guide dog mauled while helping owner deliver Christmas cards
Nelson Mandela’s complex bond with Britain
The poorest pay the price for austerity: Workers face biggest fall in living standards since Victorian era
Deadly ice storm pushes up US east coast as temperatures drop to -29C
10 stone five-year-old taken into care
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