Cash-strapped Future Retail may get major relief by month-end. Check details

Cash-strapped Future Retail may get a major repayment relief by the end of the month. It may be noted that Future Retail had been struggling to clear its dues to lenders as its deal to sell retail assets to Reliance has been put on

Cash-strapped Future Retail Ltd, which had been struggling financially since the Covid-19 pandemic began last year, may get a major relief soon. Future Retails’s lenders could approve a debt recast plan for the company by the end of this month, reported livemint.com. The draft of the loan repayment relief plan is currently being circulated among Future Retail’s lenders for approval, according to two banks quoted in the report. The draft plan indicates that Future Retail will get a two-year moratorium on repayments without any changes in the prevailing interest rate, added the anonymous bankers. The loan relief plan for Future Retail is similar to the one approved for Future Lifestyle Fashions Ltd earlier.