August 18, 2011
Chilean retailer Empresas La Polar has hired Lazard to assist in restructur
Chilean retailer Empresas La Polar has hired Lazard to assist in restructuring the company. Lazard will assist with debt issues, investments and striking legal agreement with existing bondholders. A deal with bondholders is seen as central to the company proceeding with a $220m capital increase needed to straighten finances. In June, La Polar disclosed it overcharged clients for past-due store credit card bills and was setting aside nearly $1bn in loan-loss provisions.