Chesswood (TSE:CHW) has released an update.
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Chesswood Group Limited has announced an extension to the waiver on its credit facility until September 16, 2024, as part of its ongoing efforts to address non-compliance with borrowing covenants. The amended waiver is set to facilitate the company’s planned sales of certain assets and subsidiaries, which are aimed at repaying outstanding amounts. However, the company has also received default notices from securitizers, though it remains hopeful that its restructuring plans will alleviate these concerns.
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