News Tags

Related Keywords: Bombay Dyeing, cash positive, completely overhauling business, help from the consultants, KPMG and EY. turn loss making retail business, make it profitable by next fiscal year, Microsoft, restructure retail business, roped in PricewaterhouseCoopers, textile flagship, Wadia group

Bombay Dyeing, the textile flagship of the Wadia Group, to restructure its retail business and to make it profitable by the next fiscal year has roped in PricewaterhouseCoopers, Microsoft, KPMG and EY. They are completely overhauling the business with help from the consultants to turn the loss making retail business to cash positive.

Related Keywords: at Rajjangoad in Maharashta, cancels deal signed with Oasis Procon, enhance working capital, sale of textile processing units, textile firm Bombay Dyeing and Manufacturing company, to repay existing loans, Wadia group

Wadia group’s textile firm Bombay Dyeing & Manufacturing Company Ltd (BDMC) cancels its deal signed with Oasis Procon Pvt Ltd for the sale of a textile processing unit at Ranjangaon in Maharashtra for Rs 230 crore in May this year.

As per the term sheet, Delhi-based textiles manufacturer Oasis was required to complete the proposed transaction by July 31. However, it failed to do so.

According to the terms of the deal, the company had decided not to export bed linen or bed linen fabric to the US for five years from the closing date.