Metropolis sources indicated that there was loads of curiosity from different lenders comparable to hedge funds and distressed debt specialists, however GFG could need to pay a excessive rate of interest to safe emergency funding from them.
Sources near Davidson Kempner stated they weren’t in formal negotiations.
Davidson Kempner has been significantly busy throughout the pandemic. The Wall Road funding agency was the lynchpin in Virgin Atlantic’s rescue final summer time that pulled Sir Richard’s airline again from the brink of collapse.
It had seemed to be the frontrunner to accumulate Topshop with a joint bid alongside Subsequent, solely to be pipped by on-line retailer Asos. And because the second-biggest shareholder within the AA, Davidson Kempner backed a take-private deal for the debt-laden breakdown agency.