NEW DELHI: Future Retail Ltd, which operates chains such as big bazaar and Easyday and Heritage among others, on Monday said it has missed payment of interest due on the dollar denominated notes (dollar Notes), listed on Singapore Stock Exchange, due to weakening of its liquidity position.
The Kishore Biyani-led Future Group firm said due to the continued impact of the Covid-19, the restricted business operations of the company and the current financial situation, the liquidity position has still remained affected.
“This has caused us to miss the service of the payment of interest due on the dollar Notes (listed on Singapore Stock Exchange) on January 24, 2022,” Future Retail Ltd (FRL) said in a regulatory filing.
The terms of issuance of the dollar Notes provides for an additional period of 30 days for payment of interest from the due date, in case FRL misses the original due date, it added.
“Accordingly, we are proposing to make…
