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EMI Reports $2.4 Billion Loss. Needs $160 Million To Avoid Citi Loan Default - hypebot



UPDATE: Big Cuts Ahead As EMI Fights For Survival It's official. EMI has reported a 2.4 Billion Loss. Accountants examining EMI's books as part of a dispute between the label group, it's investment firm owner Terra Firma, and lender CitiGroup are expected to reveal that the company is $2.23 $2.4 billion in the red, The red ink would put EMI in default of the terms of its massive $4.5 billion debt to Citi which is struggling under its own losses. To make matters worse, a $160 million loan payment is due on March 31st; and if that is missed, the...
EMI To Report $2.2 Billion Loss. Needs $160 Million To Avoid Citi Loan Default - hypebot