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United Textiles: All Creditors Signed Restructuring Plan

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United Textiles announced that all creditor banks (NBG, Emporiki Bank, Alpha Bank, ATEbank, EFG Eurobank and Geniki Bank) have signed the final proposal according to which they will finance the companys restructuring efforts by granting a loan guaranteed by the Greek state.

 

The company says that creditors will meet by the end of the week to finalise the plan. The company continues being in a crucial situation given the delay in the implementation of the plan.

 

United Textiles also pointed out that the finance ministry will need more time to complete the necessary procedures for the issuance of a guarantee.

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