The Willbes & Co. Fails to Repay KRW11.9 Billion Corporate Bond Principal, Interest
MT Newswires Live
Yesterday
The Willbes & Co. (KRX:008600) failed to repay 11.5 billion won in corporate bond principal and 390.1 million won in interest due Aug. 28, totaling 11.9 billion won, due to a lack of liquidity, according to a filing with the Korea Exchange.
The default comes after the termination of joint management procedures by creditor banks on Aug. 28. The Willbes & Co. will review measures, including court-led rehabilitation proceedings, to normalize business operations and protect stakeholders, the filing said.
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