Empik secures loan from shareholders

Retail group Empik Media & Fashion has secured a PLN 100 million loan from its shareholders, the company said in a recent press statement. The funds will be used to refinance existing debt and improve liquidity. The loan was granted by Eastbridge and Penta Investments through their subsidiaries, Westbridge and Privatbanka. EMF is going through a restructuring process and has recently carried out bond issues worth PLN103.8 million and PLN 17.5 million. The securities mature in 2017.