French casino operator Groupe Partouche has sought creditor protection at the Tribunal de Commerce de Paris as a result of its inability to pay debts of €233.7m.
The 'safeguarding' application will allow the company to suspend debt repayments in order to raise funds to pay creditors and avoid insolvency.
Partouche said the decision to initiate proceedings came after several year of operating in a "difficult environment" and despite its continued efforts to restructure unprofitable divisions. It [...]
