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Troubled Dubai gold retailer seeks time to repay $136 mln debts| Reuters

Sep 04, 2015    

ABU DHABI/DUBAI A Dubai-based gold and jewellery retailer that defaulted on loans worth about 500 million dirhams ($136 million) has asked banks for time to put together a repayment plan, the company said on Thursday.Officials of Atlas Jewellery, which has more than 50 branches across the Gulf and India, had a meeting with representatives of its creditors on Wednesday, three banking sources told Reuters."We assured the banks we will pay all the debts," Shyam Mohan, Atlas spokesman, said. "We will present two or three options to banks who will select what is best for them."I...

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