Following yesterday’s publication of an attempted hostile take over of PGI, publishers of women’s magazine Twoj Styl, amongst others, the management of PGI has received a number of offers of assistance. Most of these have come from foreign publishers. The company is now concentrating on raising the cash to cover the credits being pulled in by BRE Bank.
Polska Grupa Interim has now only two days to find PLN55m to pay BRE Bank which called its credits in several days ago.
PGI has already spoken to several banks but the company admits that it does not yet know where it stands. The problem is that BRE Bank will be able to get its hand on nearly all of the stock in PGI. A compromise between BRE and PGI seems unlikely although the two sides are to meet according to rumour.