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Rejection of the Reliance deal by its creditors has put Future Retail in deep trouble. With Reliance becoming the main tenant of 835 FRL stores across formats, it has very little to offer to any potential buyer, once its creditors drag it to the auction block
Caught in a mountain of debt, its flagship, Future Retail as also Future Lifestyle Fashions, among other group companies, face an uncertain future as the next stop appears to be the insolvency courts.
Reliance's overnight deal to take over Future Retail's key outlets has stunned Amazon as it now battles for options