By Robert Smith
LONDON, Sept 18 (IFR) - Phones 4U's administrators PwC saidthere was little chance of a prosposed debt-for-equity swapsucceeding for the business, during a phone call withbondholders on Thursday.
A group of Phones 4U's senior secured bondholders haveproposed to restructure the UK retailer, preparing to write downa significant chunk of their debt to save the business.
US law firm Brown Rudnick is representing the investors,which had approached PwC with the scheme.
Rob Hunt at PwC said they were considering all restructuringoptions, including the bondholders' proposal, but added there is"no realistic prospect for a debt for equity swap."
Hunt added that selling off parts of the business was morefeasible, and discussions were progressing well with threeparties. (Reporting by Robert Smith; editing by Alex Chambers)