USA: Florsheim Group Misses Interest Payment Deadline
Chicago-based shoe manufacturer Florsheim Group Inc announced on Friday it had failed to make the necessary interest payment to the trustee for its 12.75 per cent senior notes, First Union National Bank. The firm, which was delisted by the Nasdaq last month after failing to meet the stock market's criterion for net tangible assets, market capitalisation and net income, said it could not make the March 1 deadline for the payment.
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