28-September-2020
Corporate News
 
Kishore Biyani in a spot as lenders invoke shares amid stock crash, lockdown
16-Sep-2020

The Covid-19 pandemic induced stock market carnage coupled with high debt levels has put Future Group promoter Kishore Biyani in a tight spot. Biyani, whose business appeared to be cruising along well, having struck several deals across group companies with the likes of Amazon, private equity firm Blackstone and Japan’s Nippon group in the last six months and whose group raised its first offshore bond in January, has seen his business upended in the last few weeks. The combined headwinds of debt and Covid-19 panic have led to Future group stocks—Future Enterprises, Future Lifestyle Fashion, Future Retail and Future Supply Chain Solutions, losing 48-68% of their value since the start of the year.

News Source:- https://www.livemint.com/companies/news/kishore-biyani-in-a-spot-as-lenders-invoke-shares-amid-stock-crash-lockdown-11585075508987.html