Casino: deadline extended for lock-up agreement
(CercleFinance.com) - Following the agreement in principle announced at the end of July with certain secured creditors, French food retailer Casino announces that it has extended, the deadline for reaching a lock-up agreement with its creditors until 3 October, so as to allow negotiations to continue.
Under the terms of a lock-up agreement, the signatories will undertake to support and carry out any steps or actions reasonably necessary to implement and complete Casino's financial restructuring.
In July, Casino was hoping to conclude such an agreement in September, for the opening of an accelerated safeguard procedure in October and effective completion of all restructuring operations by Q1 2024.
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Under the terms of a lock-up agreement, the signatories will undertake to support and carry out any steps or actions reasonably necessary to implement and complete Casino's financial restructuring.
In July, Casino was hoping to conclude such an agreement in September, for the opening of an accelerated safeguard procedure in October and effective completion of all restructuring operations by Q1 2024.
Copyright (c) 2023 CercleFinance.com. All rights reserved.