Sunday, May 16, 2010

EMI extend long, slow death a few more months

It's looking likely that Guy Hands has managed to just about scrape together the cash to keep hold of EMI for a little while longer. USD105million, all of which will go into the debt pit that Terra Firma has dug, and all of which just keeps the beast limping on until March next year.

Meanwhile, with the cash they can get going on feeding the debt, no word on what EMI intends to do for actual money. I'm sure there's a plan, though, right?