Koutons news and archive

Delhi High Court sends Koutons directors to judicial custody

The Delhi High Court has sent two directors of retail apparel company, Koutons, to judicial custody in Tihar Jail for not appearing in a contempt case filed against the company's three directors. The two of the three directors were arrested after they failed to appear before a court which is hearing the contempt case against them for non-payment...

Apparel

Koutons to acquire foreign company

Koutons Retail is looking at acquiring a foreign company, a BSE filing by the company has indicated. Its board is expected to consider the acquisition at its meet soon. Koutons plans to spend up to 200 million dollars (over Rs 1,000 crores) on the acquisition. The shareholders of the company have also approved raising 200 million dollars via...

Fashion

PE backed apparel retailers/brands struggle to remain afloat

While on one hand the government is pondering over how to increase foreign investment in India’s retail sector, leading apparel companies are suffering from growing debt pressures and differences with their investors. After Lilliput Kidswear announced its plans to sell off the company after a fall-out with PE investors TPG and Bain Capital, the...

Apparel

Koutons to raise over Rs 1,000 cr through preferential shares

Debt-ridden Koutons Retail India has announced its plans to raise up to $200 million (around Rs 1,000 crores) by issuing preferential shares to promoters and others. In a filing to the BSE, the company said its board of directors "considered the preferential issue of equity shares to promoters and others...for a value up to $200 million." It...

Apparel

Koutons Retail shuts Charlie Outlaw outlets

As a part of its restructuring process, apparel manufacturer and retailer Koutons Retail has shut 150 more shops, mostly of its casual menswear brand Charlie Outlaw. The Delhi-based company, reeling under Rs 600-crores debt that carries an average interest cost of 14 per cent, is trying hard to meet with the conditions of the corporate...

Apparel

Koutons debt restructuring on the anvil

Debt ridden Koutons Retails will finally heave a sigh of relief with its debt restructuring plan being finalised. The lenders are supposed to meet soon for the final approval. The apparel company’s total debt is Rs 660 crores, out of which the long term debt of Rs 500 crores will be payable over a period of 10 years including a two year...

Apparel

Koutons’ president quits

Koutons the well known apparel retailer is surely going through some tough times. The latest is that the President Balvinder Singh Ahluwalia has put in his papers. The apparel retailer reportedly has around Rs 660 crores debt on its books and is currently undergoing a corporate debt restructuring. In the last few months it has seen a spate of...

Apparel

Koutons Retail prunes its act

Koutons Retail India a retailer of readymade and fashion wear brand with more than 1,400 outlets across India, is close to liquidating its assets worth Rs 100 crores. This will help them revoke the pledged shares. The 20-year-old brand is now roughing it out and has gone into debt restructuring and is trying to raise funds to sustain its leading...

Apparel

Koutons Retail to be redeemed of debt

Following in the footsteps of Vishal Retail, Koutons Retail, the well known Indian apparel maker and retailer that recently proposed to recast its debt and the proposal has been admitted by the corporate debt restructuring (CDR) cell. SBI Capital Markets has been given the mandate to draft the recast scheme. The company has nearly Rs 660 crores...

Apparel

SBI Capital to draft Koutons’ debt recast

Koutons Retail has appointed SBI Capital Markets to draft a debt recast scheme as it is unable to repay short-term debt. The continuous downfall in the stock price led to an inordinate delay in raising equity for the company and because of this, it’s unable to meet the repayment obligations of short term loans. The New Delhi-based retailer,...

Apparel

Top level resignations at Koutons

Koutons Retail the company known for their apparel brand Koutons has received another blow with the resignation of three more independent directors Vinod Chander Sinha, Girish Chandra Raghubir and Krishnamurthy Santhanam, all citing personal reasons and ill health. It may be noted that last year three independent directors -- Ajay Mittal, Anil...

Apparel

Koutons in talks to shed 15% stake

Debt ridden, Delhi-based apparel retailer Koutons Retail, is in talks with its lenders to recast its debt besides looking to raise funds from private equity players. A few private equity funds, such as TPG Capital, Banyan Tree Finance, and a Mumbai-based apparel company are in talks with the promoters for the deal. Faced with a debt of Rs 660...