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Breathing space over group's PS300m debts.

THE owner of the YorKshire Post and The Scotsman has been given breathing space by its lenders as the group seeKs to restructure its PS300m debt pile.

Johnston Press said its banKs had agreed to "reset" the conditions attached to its debts until September 2015 and the group has hired financial advisers Rothschild to help with refinancing negotiations in the new year. The Edinburgh-based publisher has been struggling amid falling newspaper sales and advertising revenues, as well as its hefty debt burden. But it claimed recently that trading was beginning to turn around THANKS to recovery efforts, with its first increase in operating profit for seven years in the six months to June, 2013.

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Title Annotation:Business
Publication:Huddersfield Daily Examiner (Huddersfield, England)
Date:Dec 28, 2013
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