Pentos banking decision shortly
Monday 20 February 1995
The group denied that it had run out of credit to pay its suppliers. Pentos said yesterday that the company was operating within its credit limits and is confident that the banks will agree to a refinancing.
Athena, the greeting card subsidiary, went into receivership in December and there have been no acceptable offers. Pentos is also open to offers for Rymans, whose disposal would allow it to concentrate on the book stores.
At the end of last year Pentos's debts were thought to be about £46.5m and last month the company confirmed that it had been forced to reschedule £4.2m of debts.
It was unable to repay loans to two European banks when they fell due, but the banks agreed not to call them in.
The group's total debt will increase to more than £60m in the first quarter, when it has to pay publishers for supplies. Pentos said it is in talks with suppliers to calculate the level of returns.
In the past Dillons has had one of the worst records of paying suppliers, for which management blamed its old computer system. A new system is planned for later this year.
Regular cast member Ste Hay, played by Kieron Richardson, is about to test TV boundaries
- 1 Lee Evans announces retirement from comedy on The Jonathan Ross Show
- 2 Pirelli calendar 2015: The problem with 'plus-size' models like Candice Huffine
- 3 These grandmas smoking weed for the first time are wonderful
- 4 Woman opens professional cuddling shop – gets 10,000 customers in first week
- 5 Angelina Jolie confuses everyone with 'ay up me duck' East Midland's greeting to Derby actor Jack O'Connell at awards show
Jeff Fletcher dead: Britpop guitarist is decapitated by lorry in horrific traffic accident
These grandmas smoking weed for the first time are wonderful
Jimmy Ruffin dead: Motown legend, who wrote 'What Becomes of the Brokenhearted', dies aged 78
New York snowstorm: Five dead and state of emergency declared as 'wall of snow' buries Buffalo
Woman opens professional cuddling shop – gets 10,000 customers in first week
G20 summit: Enter Putin. Accompanied by four warships. To the sound of mockery
'Muslims pre-date Columbus in discovering America,' says Turkish president Erdogan
David Cameron 'compares Vladimir Putin’s Russia to Nazi Germany' ahead of tense meeting
Former Tory PM Sir John Major says 'we would not have an NHS without migrants'
France 'blocks' Russian sailors from boarding a warship
G20 summit: David Cameron warns Vladimir Putin that Russia's relationship with the West is at a 'fork in the road' over Ukraine
iJobs Money & Business
£20000 - £25000 per annum + OTE £35,000: SThree: We consistently strive to be ...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...
$175 - $200 per annum, Benefits: full benefits: Carlton Senior Appointments: P...
Not specified: Carlton Senior Appointments: Senior MD Financial Advisor - San ...