4th Nov 2016 09:05
LONDON (Alliance News) - Tailor Bagir Group Ltd on Friday said it has now repaid all of its outstanding debt.
Bagir raised a total of GBP8.1 million via a placing and open offer earlier this year in order to pay back its debts owed to Bank Leumi and Discount Bank, both Israel-based lenders.
Following the repayment, Bagir is now free of bank debt, it said.
"We are delighted to be able to report the completion of the repayment agreement and the fact that Bagir is now free of bank debt. This is transformative for us, making Bagir into a very different business," said Bagir Chief Executive Eran Itzhak.
Bagir shares were up 0.1% at 3.63 pence Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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