Centro CEO says bankruptcy looms without new debt extension

Centro Properties Group will need to file for the Australian equivalent of bankruptcy if it can't extend its April 30 deadline for paying off $4.9 billion in short-term debt, its CEO said. Melbourne-based Centro twice has persuaded its lenders to grant it extensions, and it needs another to Sept. 30, CEO Glenn Rufrano said.

View Full Article in:

Wall Street Journal (tiered subscription model), The

Published in Brief: