Stefanutti Stocks’ loan repayment extended by one year
Move will help group as it restructures while trying to sell noncore assets, underused plant and equipment and some operations
The future of unprofitable construction group Stefanutti Stocks remains uncertain despite it reaching an agreement with lenders to extend its loan repayment to the end of February 2023. Although it is restructuring, the company remains technically insolvent.
At a prime interest rate plus 5.4%, it will help the company that is looking to sell noncore assets, underutilised plant and equipment and certain operations while it restructures internally. ..