Bloomberg News

DirectBuy in Talks With Bondholders Over Debt Restructuring

February 13, 2012

Feb. 13 (Bloomberg) -- DirectBuy Holdings Inc. is in talks with a committee representing holders of a “substantial majority” of its $335 million of senior bonds over a restructuring of its balance sheet.

DirectBuy missed a Feb. 1 interest payment on the debt, taking advantage of a 30-day grace period because of the “productive nature” of the negotiations, Mike Georgeff, a spokesman for the Merrillville, Indiana-based consumer club, said in an e-mail.

To contact the reporter on this story: Tim Catts in New York at

To contact the editor responsible for this story: Shannon D. Harrington at

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