Cafe Coffee Day: Coffee Day defaults on Rs 263 crore payment

Cafe Coffee Day: Coffee Day defaults on Rs 263 crore payments


Bengaluru:
Coffee Day Enterprises said it has Rs 518 crore of debt, including both short and long term, and that it has defaulted on about Rs 263 crore of payments. In a disclosure to stock exchanges, the Bengaluru-based company that runs a chain of Cafe Coffee Day outlets, said it owed Rs 280 crore, availed of as cash credits from banks or financial institutions, and another Rs 200 crore in unlisted debt services. It also owes interest on the defaulted loans.
A senior Coffee Day executive told ET that the company owed money to four lenders including Axis Bank, SSG Singapore and Aditya Birla Finance. These had been debts that had remained on the company's book since the time of founder VG Siddhartha's death, he said, not willing to be identified.

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