THE DEAL - June 24 - FriendFinder Networks Inc. has received a third extension on its forbearance agreement with its lenders, and probably not the last one. The extension now is July 1. FriendFinder needs a good solution to shrink its hefty $455M debt burden. It has a debt-to-assets ratio of 110.8%. When industry analyst and consultant Mark Brooks visited FriendFinder's headquarters earlier this month, he found that "FriendFinder was business as usual, and the talk was of business expansion. I've seen many idating offices over the years," Brooks said. "I got a good sense of good morale at FriendFinder."
by Lisa Allen
The full article was originally published at The Deal, but is no longer available.
See all posts on FriendFinder
Comments