Legacy SME debt must be tackled too

Legacy SME debt must be tackled too

Struggling Irish SMEs must be looking on with envy at Independent News & Media, after it agreed a €140 million debt write-off deal by its consortium of lenders last week.

Struggling Irish SMEs must be looking on with envy at Independent News & Media, after it agreed a €140 million debt write-off deal by its consortium of lenders last week. After all, INM is listed on the stock market and is controlled by a billionaire, the telecoms tycoon Denis O'Brien. Nonetheless, it convinced its banks, including a number in which the state has direct stakes, to take a swingeing hit on their exposure. Meanwhile, many...

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