Centro unit could fold after big second-quarter loss

08/20/2008 | Bloomberg

Centro NP, a unit of Centro Properties Group that manages U.S. assets acquired last year for $5.2 billion, recorded a second-quarter loss of $299 million on charges of writing down the value of the business. "There is substantial doubt about the company's ability to continue as a going concern given that the company's liquidity is subject to, among other things, its ability to negotiate extensions of credit facilities," Centro NP said in a statement filed Tuesday with the U.S. Securities and Exchange Commission.

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