Categories: BusinessLatest

Nando’s Denies Reports It’s in ‘Crisis Talks’ over Debt

The chicken chain Nando’s has denied it’s in crisis talks over a reported debt pile after spending £20m equivalent of about 26.642 million dollars to make its UK restaurants Covid-secure.

Earlier media reports had said the bosses are holding discussions with Barclays to secure potential waivers to the covenants on £300 million equivalent of about 399.838 U.S. million dollars of loans,  according to recently filed accounts. The group’s UK arm employs almost 17,000 people and operates nearly 400 sites.

Dick Enthoven, the South African owner, injected 133.252 million dollars into Nando’s in September. It allowed the business to draw down about 166.56 million dollars from a corporate overdraft provided by Barclays.

The company says its restaurants in the UK were now open again, with the exception of its Gatwick Airport outlet.

Follow us on:

AriseNews

Recent Posts

Ekiti Chief Judge Oyewole Adeyeye Passes Away From Injuries Sustained In Court Building Collapse

Ekiti mourns as Chief Judge Justice Adeyeye dies, succumbing to injuries from a court building…

26 mins ago

Boeing Workers End Seven-Week Strike After Accepting 38% Pay Increase

Boeing workers have accepted a new contract with a 38% raise, ending a seven-week strike…

29 mins ago

Trial Underway for Eight People Accused of Inciting Murder of Teacher Samuel Paty

Eight individuals are on trial in Paris, accused of inciting the murder of teacher Samuel…

1 hour ago

Indonesian Government To Evacuate 16,000 Residents After Mount Lewotobi Eruption

Indonesia is evacuating 16,000 residents after Mount Lewotobi erupted, resulting in nine deaths and significant…

1 hour ago

Philippines Stockpiles Food, Evacuates Towns As Typhoon Yinxing Threatens Northeast

The Philippines is stockpiling food, evacuating towns, and deploying soldiers in preparation for Typhoon Yinxing,…

1 hour ago

Harris Wraps Up Campaign in Philadelphia, Trump Rallies in Michigan as Tight Election Nears

Harris has concluded her campaign in Philadelphia while Trump gathers support in Michigan as election…

2 hours ago