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  1. #1
    Thailand Expat tomcat's Avatar
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    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.
    Majestically enthroned amid the vulgar herd

  2. #2
    Thailand Expat
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    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

  3. #3
    Thailand Expat reinvented's Avatar
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    isolated teflers cant afford their prices
    agree there are far better places

  4. #4
    Thailand Expat
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    oh yeah, it's overpriced crap for snobby expats

  5. #5
    Thailand Expat cyrille's Avatar
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    Maybe that's why they're in debt.

    You left.

  6. #6
    Thailand Expat
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    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

  7. #7
    Thailand Expat cyrille's Avatar
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    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.

  8. #8
    Thailand Expat
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    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

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