Theme works on standstill deal
Fashion retailer Theme International Holdings has yet to finalise a standstill agreement with bank creditors on its latest outstanding debts of $216 million. However, the company has applied to resume trading today after a three-month suspension. Financial adviser KPMG Peat Marwick said Theme used its $1 billion banking facilities on January 10. Two weeks ago, the company secured an $80 million loan facility from China Everbright Ltd.