Dean & DeLuca Dilemma

Thai Owner of Dean & DeLuca Defaults on $88 Million of Debt
By Anuchit Nguyen (Bloomberg)
October 21, 2019

Thailand’s Pace Development Corp., owner of gourmet grocer Dean & DeLuca, said it’s in default on 2.6 billion baht ($88 million) of debt owed to one of the nation’s top banks.

Siam Commercial Bank Pcl has asked the firm to repay outstanding amounts by Nov. 4, Pace Development said in a stock exchange filing on Monday.

The company said it will accelerate discussions with the lender to prepare financial restructuring and debt management plans so it can continue developing projects.

The trend-setting Dean & DeLuca store in New York introduced Americans to international delicacies more than four decades ago, but lately has been battling to survive. Pace Development, which in 2014 agreed to purchase Dean & DeLuca, said in July tough U.S. conditions wouldn’t prevent expansion in other regions.

In September, Pace Development said Dean & DeLuca’s Thai operation plans to raise 2 billion baht by selling bonds, with the proceeds earmarked for repaying debt and funding investment.
Pace Development’s shares tumbled as much as 13% in Bangkok. The firm’s market capitalization is just $33 million. Siam Commercial Bank slid as much as 3%, the most in about a month.

no surprise, crap food that only impress Thais and isolated English TEFLERs, that thing was bound to fail the first day it set foot in Thailand

isolated teflers cant afford their prices
agree there are far better places

oh yeah, it's overpriced crap for snobby expats :)

Maybe that's why they're in debt.

You left.

I went inside once, looked at their crappy menu, and thought this place must be targetted to snobby Americans and British who don't know what real food is :)

everything seemed fake, so I left

You really work hard to find the troll value in a thread, don't you.

It's odd how crap you still are at it.

do you have a point to make about that Dean & Deluca or are you just posting to annoy everyone :)

I guess you were a regular customer, but you being a class A wanker, it's no surprise

snobby little British man :)