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Reach4entertainment in bank talks after warning on 2015 results

Thu, 26th Feb 2015 16:18

Theatrical and film marketing group Reach4entertainment (r4e) has warned that it has begun discussions with its bank and warned that results in 2015 will be lower than in 2014.The AIM-listed company, which is currently funded by a significant bank loan, said performance in 2014 had been strong and in line with expectations.But it warned that group performance had been largely thanks to growth at its Manhattan-based theatre and live entertainment business, SpotCo, which had been mostly based on "a number of significant one-off projects which were not likely to be repeated in 2015".As such, r4e, which owns a collection of what it calls the "biggest and brightest" theatrical, film and live entertainment agencies in the US and UK, had felt it necessary to begin talks with its bank.Directors confirmed they had already begun discussions with the company's bank and third parties about a potential restructuring or replacement of the loan.R4e, which changed its name from Pivot Entertainment in 2012, emphasised that it was not in breach of its bank covenants and had made all its required payments on time, it remained hopeful of a successful outcome.
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6 Nov 2015 09:35

Reach4Entertainment makes amendment to debt facility with AIB

(ShareCast News) - Reach4Entertainment Enterprises has proposed amendments to restructure its existing £14.8m loan facility with AIB Group. Under the terms of the amendment, the Irish lender will no longer convert £5.2m of the outstanding principal debt due under the existing facility into new ordin

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6 Nov 2015 09:18

Reach4Entertainment Proposes Amendments To Debt Obligations

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30 Oct 2015 16:12

Reach4Entertainment Says AIB Agrees To Extend Repayment Deadline

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25 Sep 2015 08:45

reach4entertainment secures new funding deal

(ShareCast News) - Entertainment group reach4entertainment has agreed a new funding deal with PNC Business Credit, which will be used to refinance its loan with Allied Irish Bank. In June, the London-listed company reached a deal to restructure its £14.6m loan debt with Allied Irish Bank, as it agre

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25 Sep 2015 07:06

Reach4Entertainment Gets GBP9.5 Million Loan From PNC

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9 Sep 2015 09:29

WINNERS & LOSERS SUMMARY: Monitise Drops 25% As CEO Departs For US

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9 Sep 2015 07:30

Reach4entertainment Says Trading In Line As It Tackles Debt Pile

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30 Jun 2015 09:03

Reach4entertainment Says First-Half Trading In Line With Expectations

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10 Jun 2015 11:03

LONDON MIDDAY BRIEFING: Sainsbury Sales Down Again, But CEO Hopeful

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10 Jun 2015 10:39

WINNERS & LOSERS: Supermarkets, Standard Chartered Top FTSE 100 Risers

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