Rescue plan to save Chartbusters

Creditors of the Chartbusters home entertainment group have been asked to write off up to 95 per cent of their debts under a rescue plan for the DVD retailer.

Ian Kehoe - avatar

Ian Kehoe

11th April, 2009

Creditors of the Chartbusters home entertainment group have been asked to write off up to 95 per cent of their debts under a rescue plan for the DVD retailer.

Unsecured creditors of the company, which is in examinership, have been asked to accept 5 cent in the euro, while preferential creditors have been offered 10 cent in the euro.

The rescue package is being financed by Dublin builder and property developer John McCabe, who will take a majority...

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