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Creditors take control of Gala Coral

22nd June 2010 8:41 am GMT

Gala Coral said Monday that it is now focussed on investing for future growth in both its retail and online businesses after finally concluding the company's restructuring, with private equity owners Candover, Cinven and Permira all exiting the business.

Gala Coral will instead be lead by its creditors - Apollo Management, Cerberus, Park Square and York Capital Management - after the four companies converted their £558m holding into equity and injected a further £200m in cash [...]

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