Creditors agree Team Sportia payment plan - sportstextiles: Lea SportsTextiles

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Creditors agree Team Sportia payment plan

04/12/2013
One of Sweden’s biggest sports retail groups, Team Sportia, looks like it will be able to exit administration after more than 80% of its creditors, including suppliers, agreed to accept around 25% of the money owed to them.

Courts in Gothenburg ordered reconstruction of the company in May after cash-flow problems led to trouble with suppliers and with banks.

Interim chief executive, Anders Edvardsson, said there was still a lot of hard work ahead.


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