Discount retailer Loehmann’s Inc. filed for Chapter 11 reorganization early yesterday morning and later in the day was given interim authority by the bankruptcy judge for $6 million in credit from a $45 million loan provided by Crystal Financial LLC, a pre-petition lender.
Wind Hellas Telecommunications SA’s senior noteholders agreed to stop trading their bonds in return for access to confidential data they need before making a bid for the company, according to two people familiar with the matter.
Vodafone Group Plc has begun talks about a potential combination of its Greek unit with Wind Hellas Telecommunications SA to rival market leader Cosmote Mobile Telecommunications SA controlled by Deutsche Telekom AG.
Egyptian billionaire Naguib Sawiris submitted a revised offer for Wind Hellas Telecommunications SA after lenders to the Greek telecommunications company failed to agree on a preferred bidder, according to three people with knowledge of the situation.
Wind Hellas Telecommunications SA’s senior bondholders were approved by a London court as the bidders that should decide the outcome of the Greek mobile-phone operator’s second restructuring in a year.
Wind Hellas Telecommunications SA said it received offers from a “number of potential investors” for the Greek phone company, which put itself up for sale after delaying payments on 1.8 billion euros ($2.4 billion) of debt.