The receivers of Australian clothing company Colorado Group have put the business up for sale, Reuters reported. Colorado Group, which is owned by buyout shop Affinity Equity Partners, surrendered control of the business to its lenders last week. The lenders—which include Mizuho Corporate Bank, National Australia Bank and several hedge funds—are asking for expressions of interest, Reuters said. The lenders are owed roughly $411.5 million.
A Morgan Stanley property fund failed to repay $3.3 billion in debt on a Tokyo property, which means that keys to a central Tokyo office building are now in the hands of Blackstone Group and other investors, Reuters reported, adding that this is the largest repayment failure of its kind in Japan.