Brief: Interbud Lublin submits restructuring scheme

Interbud Lublin SA

21/04/2017 11:25

April 21 (Reuters) - Interbud Lublin SA  ITB.WA : 
    * Said on Thursday that it has submitted to court its 
restructuring scheme 
    * As part of the scheme the company plans to divest some 
real estate properties, including its headquarters, for about 
11.5 million zlotys ($2.89 million) 
    * Aims to reduce debt by 2022; following an agreement with a 
bank plans to pay back 32.3 million zlotys ($8.11 million), 
following an agreement with creditors it is going to pay back 
about 12 million zlotys and to repay remaining about 20 million 
zlotys  
    * Plans to reduce costs of running its operations by 1 
million zlotys per annum and stop providing construction and 
assembly services  
    * Also says that it adopted a strategy w log prices and 
plans to sell flats cheaper than peers in neighbouring locations 
what should improve sales 
 
   
     
      
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM2096940 
     
 Further company coverage:  ITB.WA   
    
($1 = 3.9830 zlotys) 
 
 (Gdynia Newsroom) 
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