Independent News & Media signs standstill deal

Independent News & Media has signed a standstill deal with its banks and bond holders and has secured another 15 million euro of working capital.

The deal ends on June 26.

That effectively means 3/4 weeks to get something hammered out and finalised with bond holders.

These are nervous times for the Indie. While the Indie frantically tries to find salvation its competitors (whilst they don't wish to see a fellow title go down) relish the chance to provide a 'home' for homeless Indie readers and bolster there own flagging circulation. Plans have already been drawn up and are ready to be executed.

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