Add to Favorite
Magazine 
Magazine
DFS loan repayments cast doubt over Hawaii relief billDFS loan repayments cast doubt over Hawaii relief bill
11-Mar-2003
An announcement last week by DFS Group that it has repaid more than $100m to majority shareholder Moet Hennessy-Louis Vuitton (LVMH) in the last year may have put the proposed Hawaii rent relief bill in jeopardy
The retailer, which owes around $40m to the State of Hawaii, said the loan repayments were required under a credit agreement with LVMH, and that without further rent relief it would be forced to close down its Hawaii venture or seek relief from creditors.Bookmark This Article
•
•
•
•
Delicious
Digg
StumbleUpon
FacebookYour Comments On This Article
Related Stories
Articles bearing the symbol 
require subscription.
(2-Apr-2003) - According to local media reports, the state of Hawaii is suing DFS Group for $49m in back rent
(28-Jun-2003) - HAWAII. Governor Linda Lingle has followed the example of her predecessor by vetoing a bill that would offer beleaguered airport retailers rent relief during hard times.
(1-Feb-2002) - US. A new bill before Hawaii?s state legislature could pave the way for operators to walk away from demanding airport contracts without penalty, if the State Department of Transportation offers no further rent relief in the next two months. The region?s retailers, including DFS Hawaii, have suffered badly since September, as Asian travel slumped by over 60%. DFS and many other local operators support the bill.
(4-Apr-2003) - By Adele WolstenhulmeUS. The state of Hawaii is suing DFS Group for $49m in back rent. The news came last week as talks stalled on a renegotiation of the operator?s duty-free contract.
(13-Mar-2002) - In Hawaii, efforts to provide relief for airport retailers took another step forward last month with a proposed new bill in the state legislature.