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Company historical debt

Thespoofer · 2015-01-25 08:33:52

The company I work for has a lot of historical debt due to a number of poor decisions during the crazy days ( € 2-3 mill ). I have heard through a reliable source that they are on a ' 5 year plan ' , paying interest only which ends in a couple of years where they must pay capital also. My question/s are what happens if the…

25-01-2015 8:33am

#1

Thespoofer

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The company I work for has a lot of historical debt due to a number of poor decisions during the crazy days ( € 2-3 mill ).
I have heard through a reliable source that they are on a ' 5 year plan ' , paying interest only which ends in a couple of years where they must pay capital also.

My question/s are what happens if the company cannot pay down the capital and why would they go on a 5 year interest only plan ?
I know the bank are restricting how much they can spend every month and monitoring all their outgoings.

Does it look bleak for them if they don't get a ' write down ' on their debt ?

Thanks

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