Hibu to suspend its payments on loans

City A.M. Reporter
YELLOW Pages publisher Hibu, struggling with huge debt and a declining core business, yesterday said it would suspend loan payments until it restructured its balance sheet, sending its shares down by as much as 34 per cent.

“A number of waivers, consents and amendments are being sought from the wider lending group in the coming days so that the restructuring discussions can proceed as efficiently and effectively as possible,” Hibu, formerly Yell Group, said in a statement ahead of a meeting with lenders.