REDgroup reports it is likely to breach banking covenants

Thursday, 29 July 2010 Books+Publishing

REDgroup retail, owners of Borders, Angus & Robertson and Whitcoulls, has reported that it is ‘likely to breach two out of three of its banking covenants when they are tested on 28 August'.While the group declined to specify what these covenants were, it reported to the New Zealand stock exchange...