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PC Jeweller Moves Closer to Debt-Free Status as Repayment Drive Continues
New Delhi [India], September 3: PC Jeweller Limited has announced another significant step in its ongoing debt-reduction programme, reporting the successful clearance and repayment of its outstanding debt to one more bank under the terms of the Settlement Agreement dated September 30, 2024. The latest repayment takes the number of consortium banks whose outstanding debt [...]
New Delhi [India], September 3: PC Jeweller Limited has announced another significant step in its ongoing debt-reduction programme, reporting the successful clearance and repayment of its outstanding debt to one more bank under the terms of the Settlement Agreement dated September 30, 2024.
The latest repayment takes the number of consortium banks whose outstanding debt has been fully repaid to nine out of 14. According to the company, all repayments made to these nine banks have been completed ahead of their scheduled due dates, highlighting the pace of its debt-resolution efforts.
The jewellery retailer has simultaneously made substantial progress with the remaining five consortium banks. PC Jeweller said it has already discharged more than 96% of the outstanding debt owed to these lenders, leaving less than 4% still to be repaid.
