Prada Talking to Banks About Debt, Exec VP says
Tags: 350 million euros, banks, carlo mazzi, fashion worldwide, renegotiating its debt, vice president of prada
The Executive Vice President of Prada, Carlo Mazzi said on Tuesday said that the company is talking to the banks and the creditors about renegotiating its debt. According to this statement, the Financial Times on Monday reported that, one of the legends and pioneer for fashion worldwide, Miuccia Prada, also the owner of the Prada was in talks with the banks about a part of its debt as the company seeks to free up some money for its rapid store expansion.
When asked about these talks, Mazzi jus said that it was a normal activity of the company that it does for rescheduling of the finance. He did not give any further details about the talks.
With these statements and considering the experts voices, FT said that the talks were underway between the company and its creditors to reschedule the repayment of 350 million Euros that has to be paid in the summer of 2010
Source:news.yahoo
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