10 Aug 2011

Bluestar future at stake

12:30 pm on 10 August 2011

Bondholders in Bluestar Group are considering a restructuring proposal that will decide the future of the printing company.

Bluestar has struggled due to the downturn in printing in the last few years, and the proposed deal meant bondholders would lose $32 million in unpaid interest, and revised terms of the bonds they hold.

Many bondholders are unhappy, saying the terms of the deal are unfair.

Bluestar says that if the deal is not supported, the company is likely to be put into receivership and bondholders could lose everything.