Birks & Mayors (BGI) has released an update.
Mangrove Holding S.A., as the majority shareholder, has pledged up to CA$3.75 million to support Birks Group Inc. in meeting its financial obligations through December 31, 2025. This financial backing aims to help the company maintain its required financial covenants and ensure timely payment of its liabilities. The agreement includes a 15% annual interest rate and a committed capital charge, subject to approval by senior lenders.
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