Auckland, New Zealand, September 15, 2006--Talks about a rescue of Feltex Carpets between ANZ Bank and Auckland businessmen Craig and Graeme Turner seemed to bog down on Thursday, according to the New Zealand Herald.
The publication (nzherald.co.nz) asserts that hopes were rising on Wednesday of some agreement for the resuce of the beleagured carpet maker, but a sullen silence has been the only outcome so far, suggesting otherwise.
Feltex is now more than $135 million in debt, and, according to The Herald the Turner brothers hoped to raise "$40 million of convertible notes and underwrite a $11 milion renounceable rights issue to existing shareholders, with each security priced at 10 cents."
For details see nzherald.co.nz.
