Plesio Reaches Agreement in Principle for Financial Restructuring Terms

03:04 AM EST, 11/10/2026 (MT Newswires) -- Plesio (CO.PA) reached an agreement in principle for the main terms of its financial restructuring with FRH and the TLB SteerCo on Monday, according to a Tuesday release. The French retailer said the proposed deal includes 390 million euros in new funding through a reserved capital increase, a reduction in term loan B debt to 800 million euros from 1.4 billion euros, and FRH taking a majority stake in the company. Plesio will also maintain its registered office in Saint-Étienne and continue its Renouveau 2030 business plan. The restructuring is targeted for completion by the end of March 2027, subject to a lock-up agreement, creditor and shareholder approval, and court approval. Existing shareholders will retain less than 0.1% of the company's share capital following the restructuring.