Dec 10 (Reuters) - Koovs Plc KOOV.L mentioned on Tuesday it could apply to position the net vogue r
Dec 10 (Reuters) – Koovs Plc KOOV.L mentioned on Tuesday it could apply to position the net vogue retailer into administration as Indian billionaire Kishore Biyani’s Future Way of life Fashions FLFL.NS failed to take a position an extra 6.5 million kilos ($8.34 million).
Koovs mentioned it couldn’t get various funding and expects its belongings to be purchased from the administrator by an organization related to the Koovs’ largest secured creditor and chairman Waheed Alli, making certain the continuation of the working enterprise.
Future Way of life Fashions, part of Future Group, India’s largest retail agency, is Koovs’ largest investor.
($1 = 0.7794 kilos)
(Reporting by Shanima A and Noor Zainab Hussain in Bengaluru; Modifying by Shinjini Ganguli)
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