Madejski company in debt negotiations

Mon 16 January 2012, 4:03 pm

Sir John Madejskiís Sackville Properties is in breach of banking covenants, meaning that banks could withdraw funding.

The firm, of which Madejski is chairman, is in discussions with lenders, and said it was hopeful the necessary funding could be secured.

Sackville made a pre-tax loss of £4.6 million in the year ended 31 March 2011, according to Estates Gazette.

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