PE-Owned Colorado Group Surrenders Control to Lenders

Australian clothing and footwear company Colorado Group has surrendered control of the business to lenders, Reuters said. It is the second private equity-owned retail chain in Australia to do so in the last two months, Reuters said. The company owes roughly $411.5 million to lenders including Mizuho Corporate Bank, National Australia Bank and several hedge funds. Colorado was acquired by Affinity Equity Partners in 2006 for 430 million Australian dollars.

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